My first considerations on looking at the opening levels
- USDJPY eventually got through the famed barrier at 95.00 and now faces further resistance at 95.50; this should prove less of an obstacle should the european market take it on; expect buying on dips and on a break
- The Chinese data overnight spurred stock markets ( I see that the NZ market hit a record high) but most fx pairs traded in fairly narrow ranges
- the euro is holding up, EURCHF staying above 1.2350, EURGBP 0.8730 and EURJPY had a brush with 125.00
- if it weren’t for the NFP shenanigans I would be a buyer on dips of euro pairs for the moment
- as per yesterday’s comments I still have similar views
- Cable looks horrible but support for the moment between 1.4950-70;
