July 2nd, 2009 22:34:00 GMT

EUR/JPY the pair to watch once Asia opens

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There is solid technical support between 133.00/50 but I’m told that the stop losses are building rapidly, starting below 133.50. If we are to see a continuation of the risk-aversion trades that we saw overnight, then it’s likely to start … Continue reading

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July 2nd, 2009 21:44:29 GMT

So much for consolidation!

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EUR/USD dropped 50 pips in a few minutes and there are obviously still some very worried long positions in the market. Retail platforms have widened their spreads, a sure sign of decreasing liquidity. Some support at 133.50 in EUR/JPY, but … Continue reading

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July 1st, 2009 22:10:21 GMT

Quick look at JPY matters

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There does not appear to be any fundamentally strong reason for being long JPY, apart from as a risk aversion play. The market is coming around to this way of thinking. USD/JPY still sees very strong bids at 94.75/95.25. Selling … Continue reading

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July 1st, 2009 03:53:59 GMT

EURJPY eyes 136.00

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Model funds continue to buy EURJPY today after the Tokyo fix. Traders are reporting sell orders at 136.00 with stops above. No real resistance above 136.00 until 137.80.

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