USD/JPY marginally firmer; buy, sell, stop orders noted

While the rest of the majors play silly buggers USD/JPY has edged serenely higher in orderly fashion. We’re presently at 89.70 from an early 89.35.

Talk now has sell orders up at 89.90/00, stops through 90.10. On the downside, buy orders tipped at 89.00/20, stops just below there, with more buy orders at 88.75 down to 88.50.

Cable slumps; buy orders noted

Cable has come under heavy pressure, presently back down at 1.5585.  I can’t see any new news, although i could be missing something. Maybe someone influential has put out a sell recommendation. Anyways, talk buy orders now lined up at 1.5585 down through 1.5565.

Greek pension system to face funding problems by 2015 if no changes made – Labour Minister

• Greece considering raising average real retirement age to 63 from 61 by 2015.

Retirement age 61 at present!!!!  No wonder they got problems.

BIS sells EUR/USD

Around the 1.3740 level. Been as high as 1.3744, presently at 1.3725.

AUD/USD enjoys early rally

AUD/USD has enjoyed a decent rally amid talk of Asian sovereign buying, presently up at .8720 from an early .8680.  Sell orders now tipped at .8725/30.

Cable extends rally, but its slow going

Cable at 1.5643.  Guess they’ll be some sell orders lined up at 1.5650/60. If I had to hazard a guess where stops parked it would be through 60. No confirmation of such as yet.

EUR/USD extends rally; sell orders, stops noted

EUR/USD has extended its rally, having been as high as 1.3728 so far.  Talk of sell orders at 1.3730. Also talk of stops through 1.3750 and 1.3760, take your pick.

Russia having been buying yesterday around 1.3640 area seems to be booking a little profit this morning, having been noted selling into the early rally.

Cable touch higher early

Cable trading a little firmer, presently at 1.5625.

 Overnight saw the release of UK RICS house price balance up at +32 from +30 in December.

Elsewhere, BRC same store sales fell -0.7% y/y in January, while total annual sales growth came in at 1.2% (the weakest January performance in 15 years) Without reading up on it would guess the crap weather might have had something to do with that.

Today we have UK trade for December at 09:30 GMT,  expected visible -6700; non EU -3100; total -2800.

EUR/USD opens firmer

EUR/USD is trading firmer this morning, up at 1.3710 from a North American close Monday around 1.3660.

News Trichet leaving central bankers meeting in Sydney day early to attend EU leaders meeting has the market in a bit of a tizzy, heightening speculation that a Greek rescue plan could be in the offing. Weekend media reports had EU President Herman van Rompuy “quietly hatching a plan” so this speculation is no surprise.

Euro zone data due today:

07:00 GMT: German trade balance for December expected 15.0 bln; current account 19.1 bln

07:00 GMT: German CPI for January (final) expected -0.6% m/m, +0.8% y/y

European stocks expected to open lower this morning.

Stops seen through 1.3720 and 1.3760.

No sooner do I post the ranges, everything starts to pop

I’m told that stops in the EUR/JPY above 122.50 have been the trigger. The EUR/USD has popped up 20 pips to 1.3710 and there is talk of lots of trailing stops above 1.3720.