Forex Flash: EUR/JPY will probably be the lead pair in Asia - FXWW

FXstreet.com (Barcelona) - Following the break of a 3-day inside bar during the last Asian session, and achieving a peak at 107.90 - new 7 month high -, courtesy of more pro-radical easing comments by the BoJ, the pair retreated all the way down to 107.20 through Europe, only to see anti-Yen flows come back mid American session to currently test offers at 107.80/85.

According to FXWW Founder Sean Lee, "EUR/JPY will probably be the lead pair in Asia again" , adding that "those protecting the 108.00 barrier probably had a good night, being able to re-load at lower levels for the next defensive action."

Ahead of the US NFP number on Friday, Sean thinks some profit-taking should not be ruled out, "but I suspect that 106.50 will provide formidable support on any dips, with initial support on the short-term charts at 107.20" he says.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS