2012-02-21 07:00 GMT
USD/JPY eyeing the critical psychological level of 80.00
The yen advanced 0.4 percent versus Europe’s common currency to 105.09 as of 9:00 a.m. in Tokyo. The dollar climbed 0.3 percent to $1.3206 per euro. The U.S. currency was little changed at 79.58 yen. USD/JPY could be in consolidation mode just below the 79.90 zone, which is the recent 6-month high recorded during Monday’s Asian session.
EUR/JPY was weaker at the start of trading on Tuesday. Last seen quoting at 105.20 from 105.42 late Monday in NY.
GBP/USD is weak in early Asia as the greenback is well bid across the board as risk aversion begins to take hold. The Pound has slid to a session low of 1.5820.
AUD/USD rallied and encountered resistance at 1.0810 on Monday before falling back from the highs to close the day lower at 1.0752.
NZD/USD was range trading between 0.8380 and 0.8426 ahead of the Asia-Pacific session, circa 0.70% above Friday’s NY closing price.
USD/CAD traded in a tight range between 0.9905 and 0.9941 on Monday, finishing the U.S. session virtually unchanged from the daily opening price at 0.9930, down from 0.9955 late Friday in New York.
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2012-02-21 00:30 GMT
Australia
RBA Meeting's Minutes
2012-02-21 02:30 GMT
Australia
RBA's Governor Glenn Stevens Speech
2012-02-21 04:30 GMT
Japan
All Industry Activity Index (MoM) (Dec)
2012-02-21 07:00 GMT
Switzerland
Trade Balance (Jan)
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2012-02-21 04:32 GMT
Japan: All Industry Activity Index (MoM) (Dec): 1.3%
2011-08-10 11:14 GMT
EZ FinMin reach deal on Greece
2012-02-21 02:56 GMT
NZ: Inflation expectations slide to 2.5% in Q1; 0.5% rise expected in Q2
2012-02-21 00:22 GMT
EUR/JPY in bearish mode on general euro weakness
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SUMMARY
Up
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TREND
Up
trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
EURUSD made a sharp move upwards and confirmed our recommendations for long positions hitting successfully the first resistance level at 1.3291 (R1) .We except the price to continue its upward move as it is under bullish pressure at the moment and it seems to be heading towards 1.3322 (R2) a strong technical resistance. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.3291 (R1). If the price fails to break above first level then it will probably move towards the first support level 1.3182 (S1) for a retest and then to continue its upwards move.
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SUMMARY
Neutral
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TREND
Sideway
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MA10
Neutral
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MA20
Neutral
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STOCHASTIC
Overbought
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MARKET ANALYSIS - Intraday Analysis
GBPUSD fell yesterday from 1.5879 (R1) and made a bottom at 1.5808 (S1). If it breaks below that level we can expect the price to retest 1.5782 (S2), a significant strong support level. A further decline will then bring focus to the next support level at 1.5735 (S3). We expect the price to retest and break below first support level targeting 1.5782 (S2) and then 1.5735 (S3). Look for short positions in today's trading session with a stop loss above 1.5879 (R1).
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SUMMARY
Up
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TREND
Up
trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
USDJPY formed a high at 79.87 (R1) as we previously mentioned in yesterday’s analysis as it has reached a very crucial level that has been retest 3 times in the past. A break above that level, it will indicate an upward break out from the trading range of the weekly chart. This is very important as it will determine our bias towards the next trading sessions. Overall, a break above that level we will look to confirm an uptrend as the outlook continues to be positive for the USDJPY. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 79.87 (R1). A stop loss should be placed below 79.28 (above S1).
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