EUR/USD looks set to test the +1.30s. Support likely forming around 1.2878/1.2845. USD/JPY shows some high anxiety at fresh highs. Correction lower, but NOT under 94.91 shouldn’t surprise. Next key area above is located at 99.75-101.45. EUR/JPY could also recheck support in the low-123s before taking on its key 126.03 ref above. Very awkward moves in the JAP 10y JGB (down to 0.32% then up to 0.65%)… If those recent moves are true there is something not so healthy going on… EUR/SEK turned more bid than thought yesterday and with support forming around 8.41, also 8.4585 looks exposed. USD/SEK could recheck 6.4645 after yesterday’s topside failure (falling short of breaking the yearly high). EUR/NOK keeps respecting support (around 7.45) but needs a lift through 7.5015 & 7.5140 to show buyers’ renewed initiative.
Click here to read the full report: Technical Alert
SEB