EUR/USD
The pair failed to make a convincing break below the 200DMA line overnight and instead squeezed higher today, supported by bids from German, as well Asian sovereign names. Also, the release of the slightly better than expected EU related macro data raised hopes that the worst may be over for the joint currency bloc. In terms of technical levels, supports are seen at the 30DMA line at 1.2768 and then at 1.2741. On the other hand, resistance levels are seen at the 10DMA line at 1.2971 and then at 1.3059.
GBP/USD
The pair failed to take advantage of the risk on sentiment and instead remained a by-product of the less than impressive macro data from the UK. Still, weaker USD (c.-0.5%) enabled the pair to recover from the losses made in the first half of the session and settle broadly unchanged. In terms of technical levels, supports are seen at 1.6109, 1.6065 and then at 1.5987. On the other hand, resistance levels are seen at the 10DMA line at 1.6203 and then at 1.6273.
USD/JPY
The pair settled the session in minor positive territory after Japan's economy minister Maehara said that the BoJ buys of foreign bonds are being considered. On that note, recent minutes releases revealed that the BoJ have said they are against the purchase of foreign bonds as part of their asset purchase program as doing so would be tantamount to governmental financing and FX intervention, both of which are the Japanese government's responsibility. In terms of technical levels, supports are seen at 77.44/13 and then at 77.00. On the other hand, resistance levels are seen at 78.13/16 and then at 78.31.
The pair failed to make a convincing break below the 200DMA line overnight and instead squeezed higher today, supported by bids from German, as well Asian sovereign names. Also, the release of the slightly better than expected EU related macro data raised hopes that the worst may be over for the joint currency bloc. In terms of technical levels, supports are seen at the 30DMA line at 1.2768 and then at 1.2741. On the other hand, resistance levels are seen at the 10DMA line at 1.2971 and then at 1.3059.
GBP/USD
The pair failed to take advantage of the risk on sentiment and instead remained a by-product of the less than impressive macro data from the UK. Still, weaker USD (c.-0.5%) enabled the pair to recover from the losses made in the first half of the session and settle broadly unchanged. In terms of technical levels, supports are seen at 1.6109, 1.6065 and then at 1.5987. On the other hand, resistance levels are seen at the 10DMA line at 1.6203 and then at 1.6273.
USD/JPY
The pair settled the session in minor positive territory after Japan's economy minister Maehara said that the BoJ buys of foreign bonds are being considered. On that note, recent minutes releases revealed that the BoJ have said they are against the purchase of foreign bonds as part of their asset purchase program as doing so would be tantamount to governmental financing and FX intervention, both of which are the Japanese government's responsibility. In terms of technical levels, supports are seen at 77.44/13 and then at 77.00. On the other hand, resistance levels are seen at 78.13/16 and then at 78.31.
