The day ahead in the FX market, Thursday November 22nd
- Could be fairly quiet today ahead of the US Thanksgiving holiday:
- Yen weakness continues to accelerate with EUR/JPY 100 pips higher after breaking important technical resistance:
- Economic calendar is again fairly bare for the Asian session with only the HSBC flash PMI for China to generate interest:
- The EUR has recovered all of its losses from yesterday with EUR/JPY buying the main driver:
- The AUD remains stuck in neutral, with reserve manager bids supporting but market happy to sell rallies ahead of an expected rate cut:
- First main level to watch today is in EUR/JPY around 106.20, which is the weekly trend-line, 138 through 123.