Important levels to watch today
- Cable should find strong support near previous highs at 1.5410 (chart in members).
- EUR/GBP support at .8410 will attract buyers but also stops below?
- EUR/USD Sovereign buyers expected 1.2950/70.
- AUD/USD Sovereign demand 1.0220 and technical resistance at 1.0360.
- USD/JPY barrier protection at 100.00.
I put in a small bid in eur/gbp at .8420 yesterday looking for a bounce to .8500.
reasonable risk-reward there Matt
Do you think BOJ will make any announcements with those CPI numbers being so bad?
It might affect their statement somewhat? its a 2-day meeting so policy decisions have already been made imho but it might lead them to some slight wording changes?
By the way, I am surprised by non confirmation of recent Nikkei highs by USD/JPY. This is first time in a while when yen failed to follow nikkei breakout. I think equities are expecting nice GDP number in US, and if it willbe delivered wecan have some bull fest. My view: if such scenario unfolds and we do not see break of 100, then long JPY would an interesting trade…
gold spiked $10 when those cpi numbers were released. Anticipation of more easing?