We’re only 60 pips away from the base of China’s 1.21/1.25 double-no-touch in the EUR/USD and as it’s risk-off Friday one would feel safe in assuming that we’ll see a test of this level some time today. Gerry imparted some invaluable information to us yesterday early in the London session when he spoke of ‘walls of offers’ around the 1.2325/35 level and that indeed proved to be the case. USD/JPY wants to move up but the layers of corporate selling are making progress very slow.
Good luck today and TGIF.
