FXWW News/Open/Wrap

Quiet start to interbank trading week

EUR/USD is trading at 1.3550, USD/JPY at 101.30, cable at 1.6230 and AUD/USD is at .9160.

All of the focus remains on the crosses with the GBP staying very strong and dragging the EUR along with it whilst the AUD, NZD and JPY are the weaklings amongst the majors.

The big level to watch today will be 1.6260 resistance in the cable and USD/JPY has a daily high at 101.60 which will surely attract some selling interest.

  1. Morning Sean, I’m Suppose to stay away from trading, But Hey, who said I couldn’t still keep an eye on the market from time to time! So my question Sean is, the Eur/Usd, do you think the 1.38 top will hold, I mean, we have been Creeping North ever since that dip, I figured it was going to go up, But I didn’t expect an increase past this level, So whats ur take, are we going back north,or is this just a minor detour which will subside in the coming week, I still am in the view of a Bear trend for this pair. As for the Usd/Jpy, well, I am not to keen to throw numbers like 105 around like some of our friends for December, but in the long run it is a reality, for now, I think between where we are now and 101.6 the Bears should come back, and I wont be surprised if we hit 100.2 soon and if they get some additional data on their side, we could dip further to 99.1/2, but I\ll wait for 100 range first, what are your thoughts on the matter? (i am neutral usd/jpy for now)

  2. Hi Abdullah. I still think that cable is headed to 1.75 and whilst this might drag EUR/USD up at first, I would sell that rally as I think we are in a cross-market and we will see EUR/GBP down at .77/.78 which would have EUR/USD at current levels again. So range trade EUR/USD and sell big rallies in USD/JPY imho.

    1. You know me Sean, I’m still a usd/jpy person, I just keep up with the other pairs to better help my trading knowledge, Whats really been bothering me is Gbp/Jpy, Do you see any possible brakes being put on this run away train? its just keeps going up and up, and now that we’ve passed the 2009 highs, I don’t want to think about the next stop! I have read some bank opinions that we will be going back down past 160 again heading lower, but I don’t believe them to much, what are your thoughts on GBP/JPY??

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