Category in open/wrap

GBP crosses hit hard as trailing stops kick in; GBP/JPY technical support at 164.00

GBP/JPY was the main mover yesterday driven by a carnage of trailing stops across the board; USD/JPY stops below 101.70 were indeed sizeable, Cable stops post-data were also significant and of course the cross then started falling like a stone once it cleared 167.50. Be aware that there is solid technical support in GBP/JPY near

Today’s highlights from the FXWW-Reuters chat-room

Once again apologies to all those awaiting access but we should have it sorted out very soon (as you know, IT stands for Irish Time ). ” Sean Lee FXWW 06:55:51 GBP/AUD continues to accelerate higher and the next target for mine is weekly highs just below 1.8500. GBPAUD= – Screenshot.png GBPAUD= – DesktopObject.xml 07:08:51 AUD/USD

Quiet start to the interbank trading week

Market remains moderately bullish for USD according to latest CFTC positioning data; Prime brokers report that long USD/JPY is still the speculators favourite position; Market still doesn’t believe the long cable story, making me even more convinced that we go higher; EUR/JPY resistance looming at 135.50 (see chart); Short-term AUD/USD resistance also looming at .9385

AUD/USD: Favours a .9420/.9520 trading range

Previous highs turned pivot at .9520 should offer solid resistance; Sovereign bids expected .9410/20; Crosses look mixed but AUD does seem to be nearing better value levels, especially against the EUR where resistance 1.4560 should be solid (see chart); Minor Australian economic data today, business confidence and building permits; I don’t think the present market