USD/JPY traded to a low of 91.59 according to my charts and it sounds like there were bids from the likes of Kampo below 91.70. I’ll try and verify that this morning. I expect another push lower today to test resolve and to try and trigger the stops below 91.50.
EUR/USD held above the previous resistance level/option point at 1.4450 and subsequently rallied, touching 1.4600. Further gains look inevitable on our way to test last December’s 1.4700 high and probably higher.
Sterling continues to lag slightly and is losing ground on the crosses. I think this trend will continue. The commodity currencies are also looking a little tired and whilst they may manage some more gains against the USD, they will likely struggle against the EUR and the JPY.
Good luck today.
