Still holding within yesterday’s range (1.3256-1.3325) after a recent downside test faltered into bids at 1.3270. The rally coming on the back of a EUR/JPY u-turn after Japan’s Econ Min Amari supposedly seen on wires ( Reuters reporting) that he denied saying the 100 USD/JPY level was a ‘turning point’ and that market misinterpreted his comments.
No change really on the order board here with bids seen from 1.3270 down to 1.3240 (1.3249- 38.2% of 1.2 998-1.3404). Sell stops sit just below ahead of more bids in the 1.3200/20 zone( kijun line 1.3201, tenkan line 1.3211) with likely sell stops through 1.3190.
Topside offers remain in place from 1.3310 to 1.3330 with buy stops just above.
EUR’s presently trading around 1.3296
