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20 Jun 2016

EUR/JPY retreats from tops, back below 119.00

The single currency is now losing some upside momentum, dragging EUR/JPY to the area of 118.40.

EUR/JPY up on Brexit, failed above 119.00

The cross is coming down from overnight highs above 119.00 the figure today, with the up move largely propped up by a better tone in the risk-associated space.

Latest poll results in the EU-UK Referendum published over the weekend have signaled the ‘Stay’ vote has regained traction, alleviating concerns over the probability of a ‘Brexit’ event.

On the data front, Japanese trade balance posted a ¥41 billion deficit during May, down from April’s ¥824 billion surplus.

EUR/JPY relevant levels

At the moment the cross is advancing 0.83% at 118.45 and a break above 119.14 (high Jun20) would expose 120.90 (20-day sma) and finally 122.57 (55-day sma). On the other hand, the next support aligns at 115.50 (2016 low Jun.16) followed by 113.54 (monthly low January 2013) and then 105.93 (monthly low December 2012).

Jun 20, 2016

GBP soars on falling “Leave” odds – RBC CM

Sue Trinh, Senior Currency Strategist at RBC Capital Markets, suggests that it was very much “risk-on” overnight thanks to a huge rally in GBP of almo
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Jun 20, 2016

Fed’s Bullard emerged as the most dovish member - BNZ

Jason Wong, Currency Strategist at BNZ, notes that on Friday, the Fed’s Bullard owned up to being the FOMC member whose “dot” portrayed only one more
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