Tag Archives: USD/JPY

Weekly Report

Hard to see light in the middle of a storm Investors unshakable optimism gave out this week.

Considering the shifts in the global bond market (US 10‐year sub 2.40%, the German 10yr at 1.05%, global 10yrs all lower and

EUR/USD is holding the low implied byWednesday’s hammer. Coupled with theproximity of the key support at 1.3296, a shorttermrebound is likely.

Today’s highlights: USDJPY risk is seen lower towards 101.32, followed by 101.09/07.

In FX, flows into safe haven drove USDJPY to a low of 101.60 before rebounding 101.80.

The bigger than expected correction found support at the 61.8% retracement; the 2 correction legs also sport a 1.618 relationship.

EURUSD: Yesterday’s attempt to kick off an upside correction stalledalready just below the first resistance, 1.3399.

The German trade balance for June is expected to show an increase in exportsand imports after both figures declined in May.

Pressure remains on the fresh 2014 low at $1.3333 set on Wednesday with bulls now needing a close above $1.3407 to

The risk-off theme in markets today gave the yen a lift and put yen crosses under pressure since the start of the session.

The NZD/USD has traded a remarkably tight range overthe past 24-hours, despite large moves across the Tasman.

Markets are relatively quiet leading into the ECB decision and press conference; however there remains an overall bias for USD strength.