Forex Market
USD/JPY Analysis
The pair is likely to trade with a firm undertone following a spike in yields on Treasury notes amid concerns that the Fed would end the ultra-loose monetary easing at earlier than expected timing.
Mid-Day FX Market Analysis
EUR – Risk appetite stalled in early Asia and despite the strong rally in Wall Street the pair was pulled lower by sharp cross supply, predominantly in euro-yen.
Technical Alert
Biggest change since yesterday morning is the false downside break in multiple dollar pairs. The behavior (spring bottoms and up-thrusts) clearly speaks in favor of seeking a long dollar position for the coming days.Favoured sell = cable.
Daily Market Technicals
EUR/USD: Potential Double-Top Pattern As Fails To Break Dec 19 High. The pair slips below the 23.6% Fibonacci of $1.2662 to $1.3308, former initial support.
USD/JPY Analysis
Yen pairs remained defensive in the US afternoon on Wednesday with cross supply adding weight to the dollar.
GBP/USD Analysis
Cable tracked euro-dollar slippage in the US afternoon to print lows of $1.6225, the rate later recovered to close at $1.6254.
EUR/USD Analysis
Closed in NY Wednesday at $1.3186, the rate recovered off pullback lows of $1.3156 (23.6% of $1.2662-1.3308) after earlier posting a high of $1.3299.
Asian Currencies Technicals
AUD/USD: Shift Higher In Focus. The sharp move higher yesterday for the AUD/USD sees daily tech studies work their way out of oversold territory,
Mid-Day FX Market Analysis
EUR – Early Asian demand lifted euro-dollar to $1.3220 on hopes to resolve the fiscal cliff, profit take sales soon eased to settle in a tight range.
Technical Alert
EUR/USD Another high is coming… GBP/USD Approaching the top line… EUR/JPY Next resistance met… EUR/SEK Hovering above support…
Daily Market Technicals
EUR/USD: Fails To Break Dec 19 High, However Daily Studies Firmer. The pair continues to range between the Dec 19 high and 23.6% Fibonacci level of $1.2662 to $1.3308,
USD/JPY Analysis
Dollar-yen lifted to fresh 29 month highs of Y86.79 in late NY trade Monday after positive headlines on fiscal cliff negotiations.