Forex Analysis

JPY Mid-day Analysis

From the charts it would appear that the Yen became temporarily oversold with

The Dollar is fighting its way back up on its charts in the wake of soft Euro zone business growth and

Vulnerable chart action overnight would seem to leave the C$ in a downward track today.

While the Pound saw some temporary support from marginally hawkish BOE developments,

With less than six weeks left until Christmas, our 1.25 year-end target for EUR/USD has already been met.

USDJPY continued to march higher to 118.45 in Asia trading.

Euro PMIs are due for release and it will be interesting to see whether theimprovement in the financial ZEW expectations is mirrored in the PMIs.

In China, the flash manufacturing PMI fell to a six-month low of 50.0 in November (from 50.4).

The pair recovered off European lows of $1.5590 to $1.5701 on extended reaction to

The pair traded a $0.8602 to $0.8658 range during the US hours last night before it started this morning at $0.8615.

The pair continued to find support on dips ahead of the $1.2500 level last night before sellers

The majority of yen crosses headed higher last night as USD/JPY made fresh 2014 and 7-year highs.