Mizuho Corporate Bank

EUR
Comment: Precariously poised at the top of the consolidation pattern but giving up nothing on the downside. Allow for a little slippage today, but dips are seen as buying opportunities for a re-test of the all-time high at 1.3853.

Strategy: Attempt longs on a dip to 1.3765, adding to 1.3700; stop well below 1.3650. Short term target 1.3800 then 1.3850.

EUR/JPY
Comment: Stuck at current levels in a holding pattern and looking for direction. Very inconclusive.

Strategy: Attempt longs at 156.75/156.50; stop below 155.00. Cover longs ahead of 159.00 but be ready to re-buy on a sustained break above 159.75 for 161.00 short term and maybe 164.00.

GBP
Comment: Consolidating in the Ichimoku ‘cloud’ and we expect more of the same today.

Strategy: Attempt longs at 2.0265 but be prepared to add to 2.0150; stop well below 2.0000. Cover longs ahead of 2.0400.

JPY
Comment: Bouncing slowly from 112.60 yesterday and there should be a little more follow-through today.

Strategy: Possibly attempt small longs at 113.50, adding to 113.00; stop/reverse below 112.50 for 111.60. Cover longs ahead of 114.50.