Tag Archives: USD/JPY

FX Daily

The US employment report and ISM manufacturing will wrap up a busy week.

EUR/USD again found support Thursday ahead of the 100-WMA with s close below last seen in July 2013.

The pair opened at Y102.79 this morning, after a Y102.73 to Y103.01 range during the US hours last night.

By breaking 102.80, the bull triangle base case is now front and center and the alternate breakdown case has been negated.

EUR/USD is in an underlying downtrend.However, monitor the support at 1.3367 impliedby yesterday’s intraday bullish reversal (hammerformation).

Today’s highlights: DXY $ Index above 81.38/48 sees a base established, for 83.40/48.

EURUSD rose to 1.3399 from its overnight lows around 1.337, while USDJPY is at 102.77 after trading as high as 103.09.

EURUSD: Small rebound likely. The 1.3375-50 target/support attracted some responsive buying yesterday,

We expect euro flash CPI for July to reach a new cycle low at 0.4% y/y (consensus0.5% y/y) down from 0.5% y/y in June.

Yesterday’s call for a “rally to complete wave-3/c expected to test key 102.27 level” has been realized.

Pressure on the $1.3390-00 region resulted in fresh 2014 and 8 month lows before the pair bounced a little from ahead of the 100-WMA.

The pair ran up to a Y103.15 high last night in the US in the wake of the US GDP data and the FOMC decision,