USDJPY intervention pushed the pair considerably higher. Making the $ index rise sharply whereas the € index remains bid….so a pure $ move it is.
EURUSD downside pressure will increase should the 1.3950 support give way, USDJPY should have a primarily target at its 233d ma (capped well also Mar/Apr) 80.72, EURSEK’s inside day points north with 9.0710 as the first topside ref of importance, EURNOK trying it above the 7.6900 resistance – we like it higher, EURPLN a second rejection up from the 55d ma band is encouraging for bulls, BONDS looks set to move higher in yield terms and especially so Italy after closing last week above 5.99%, Equities are stretched after the Oct rally but only weak selling seen so far, Oil remains basically range bound.
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Tech team
Skandinaviska Enskilda Banken AB