On USD/JPY intervention watch today - Westpac
According to Sean Callow, senior currency strategist at Westpac: "Some support came from NY traders telling news wires that the Bank of Japan had checked prices. We also heard an anonymous Japanese govt official deeming post-FOMC yen moves to be 'very excessive, speculative'." Westpac are very much on Intervention watch today.
London session ahead will bring EU CPI and employment figures, along with Italy current account at 09:00 GMT, with no more EUR/USD macro data related for the day till the NY session time, when before it opens, US CPI and retail sales are expected at 12:30 GMT. No sovereign debt auction in the euro zone as usual for Fridays. Monthly currency options expire during the weekend.
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UPCOMING EVENTS :
2012-09-14 09:00 GMT E.M.U. Consumer Price Index (YoY) (Aug)
2012-09-14 12:30 GMT United States. Retail Sales (MoM) (Aug)
2012-09-14 13:15 GMT United States. Industrial Production (MoM) (Aug)
2012-09-14 13:55 GMT United States. Reuters/Michigan Consumer Sentiment Index (Sep) Preliminar
FOREX NEWS :
2012-09-14 04:36 GMT EUR/USD above 1.30 ahead of ECOFIN
2012-09-14 02:39 GMT AUD/JPY hits 82.00
2012-09-14 01:56 GMT AUD/USD breaks NY highs; targeting 1.0615
2012-09-13 23:23 GMT USD/JPY: BoJ eyeing 77.00 – V.Bednarik
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EURUSD : 1.30259 / 1.30262
DAILY WEEKLY MONTHLY
1.3267 | 1.3179 | 1.3086
1.2959 | 1.2874 | 1.2789
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
The European Council meeting today might bring additional volatility to the markets. We expect that EURUSD decline today however medium term bias remains positive. Uptrend development might face next resistance level at 1.3086 (R1). Brake here is essential for the bullish market participants with next targets in focus at 1.3179 (R2) and 1.3267 (R3). On the downturn, a consolidation might take the pair towards to eventual supports located at 1.2959 (S1), 1.2874 (S2) and 1.2789 (S3). Consumer Price Index release at 09:00 GMT is the next macroeconomic data in focus.
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GBPUSD : 1.61997 / 1.62006
DAILY WEEKLY MONTHLY
1.6347 | 1.6289 | 1.6235
1.6164 | 1.6106 | 1.6048
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought
MARKET ANALYSIS - Intraday Analysis
GBPUSD gained momentum and maintained uptrend development. Currently pair trades at the day high and we see potential for further appreciation towards to next resistance at 1.6235 (R1). Brake here would suggest next targets at 1.6289 (R2) and 1.6347 (R3). Though, our short –term outlook is negative and easing towards to our next support level at 1.6164 (S1) is possible. Clear break here is required for further depreciation with next intraday targets at 1.6106 (S2) and 1.6048 (S3) in potential.
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USDJPY : 77.636 / 77.642
DAILY WEEKLY MONTHLY
78.09 | 77.92 | 77.74
77.51 | 77.35 | 77.17
SUMMARY : Down
TREND : Downward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY eased yesterday below the suggested support level at 77.69 and managed to reach our final target at 77.33. Market sentiment is bearish and brake below the support at 77.51 (S1) would suggest next target at 77.35 (S2). Price level at 77.17 (S3) is acting as final support level for the pair today. On the other hand, If the market manage to climb above the resistance level at 77.74 (R1) we expect next target to be achieved at 77.92 (R2) and any further rise would then be targeting to 78.09 (R3).
Source: FX Central Clearing Ltd,( ECN Brokers | ECN Forex Brokers | ECN Trading | FXCC )