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At this point, intraday bias in EUR/JPY remains on the downside with 129.25 minor resistance intact. Current fall from 134.36 is part of the whole decline from 138.47 and is expected to continue to 124.35 support and then 100% projection of 138.47 to 126.88 from 134.36 at 122.77 next. On…

GBP/JPY’s break of 144.58 confirms that fall from 150.68 has resumed and the cross should now be targeting 141.99 support next. Break there will further affirm the case that consolidation from 139.69 has completed at 150.68 alrady and whole decline from 163.05 is resuming. In such case, deeper decline should…

Japanese yen had some jittery today but still managed to gain broadly on risk aversion. Sterling tumbled after release of worse than expected GDP data. Dollar continues to strengthen against major currencies except yen. The greenback is supported as crude oil fails to get hold of 75 level while gold…

The USD is trading higher in reaction to weaker equity markets, declining commodity prices and weaker than expected UK Q4 GDP, equity markets were pressured by report that some Chinese banks have been ordered to hike reserve ratios, tighter monetary policy in China sparked risk aversion and demand for USD…

Since making a new high of 147.28 earlier in this session Gbp/Jpy has been on a steady decline due in part to commentary from the Bank of Japan. The BoJ said it remains committed to fighting deflation as gains in the yen risk stunting the country’s economic recovery.  That being said “it’s highly probable the central bank will come under pressure to ease policy further as the economy loses steam,” said Teizo Taya, a former central bank board member.

 The pair may be headed for a full retracement of move up from 144.58 (low from 1/22) as the yen continues to stengthen across the board. The 50% fibo at 145.93 should act as resistance , if the pair reverses its current momentum.

The enactment of a previously announced rise in the reserve ratio requirements at China’s banks has created a bearish tone for risk on Tuesday sending equity prices back down and raising the self-worth of the dollar. Weighing on sentiment is a downgrade to the outlook for Japan’s sovereign debt and…

The U.S economy continues to show further improvement in activities despite the fact that yesterday?s fundamentals from the housing sector showed a bigger than expected drop over last month, whereas today?s news from the housing sector might provide a clearer look on the slump witnessed in the sector as the…

The AUD/USD has dropped well below its psychological .90 level and is setting new January lows as the Dollar strengthens across the board. The Aussie?s selloff was triggered by news that China?s major banks are tightening their lending practices in light of the central bank?s hawkish monetary stance in an…

The USD/JPY has tumbled back below the psychological 90 level and previous January lows in a flood of negative developments in both the East and the West. During the Asia trading session investors headed for safety after China?s major banks indicated they are taking the central banks? new hawkish monetary…

The Cable is under considerable selling pressure right now after the UK?s Prelim GDP number printed 3 basis points below analyst expectations. Although BBA Mortgage Approvals came about in line, the setback in GDP has delivered another blow to the Pound, adding onto Friday?s disappointing Retail Sales data. Therefore, it…