Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: The market has to decide this week or next)whether it is Risk On or Risk Off, There is little economic data this week, so may be quiet till mid-week. PR.

Key support at 109.00 on USD/JPY at 109.22, and 128.00 on ER/JPY at 128.42 were breached on intra-day basis Friday, but held on day-closeing basis.

SD/JPY at 109.22 may be quiet between 109.95 and 108.60 while the EUR/JPY at 128.42 may trade between 127.50-129.50 this week.

EUR (Euro) at 1.1755 is trading on its 200-Week MA, and might have a slight Bullish bias towards 1.1830, while it trades above 1.1700.

Sterling (GBP) at 1.2880 trades at Key support coming up from the March 2017 low near 1.2106. It is vulnerable to further decline while trading below 1.30.

AUD (Aussie) at 0.7931 dipped to a low near 0.7807 last week, but has recovered from there. It is trading just below the 200 Week MA at 0.7970 with a chart structure similar to EUR.

Have a terrific week

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