EUR

Comment: Dreary as we hover just above February’s low at 1.2513. Note that other currencies are trading at their weakest ever against the US dollar. Watch the Euro try and stabilise again this week.

Strategy: Attempt tiny longs at 1.2655; stop well below 1.2500. First target 1.2750 then 1.2900..


EUR/JPY

Comment: Dipping just below 122.00 but rallying from the top of the Ichimoku ‘cloud’. Therefore we shall widen our stops a little but continue to favour another rally this month.

Strategy: Attempt longs at 123.60; stop below 121.50. First target 124.70/125.00, then 126.00 again.


GBP

Comment: Still working within a massive downward-sloping ‘wedge’ formation, which is really very dreary, but note how thin the Ichimoku ‘cloud’ has become.

Strategy: Attempt tiny longs at 1.4115; stop below 1.3900. Short term target 1.4400 then 1.4600.


JPY

Comment: Consolidating around 98.00 and likely to continue to do so again today. Note that the US dollar is very overbought but bullish momentum is terribly high.

Strategy: Strategy remains unchanged: attempt shorts at 97.55; stop above 99.00. Add to shorts on a sustained break below 96.35 for 96.00 and probably 95.00.