Mizuho Corporate Bank

EUR
Comment: New record high and surprisingly quiet media. This suggests that we shall move on up some more today.

Strategy: Attempt longs on a dip to 1.3825, adding to 1.3750; stop well below 1.3650. Short term target 1.3880/1.4000 then 1.4200.

EUR/JPY
Comment: Consolidating in a ‘triangle’/’pennant’ and we continue to favour a bounce higher.

Strategy: Attempt longs at 157.95 but only if prepared to add to 156.00; 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: Nice to know it’s pushing higher without the usual media scrutiny. Expect some more work below 2.0400 this morning.

Strategy: Attempt longs at 2.0275 but be prepared to add to 2.0150; stop well below 2.0000. Cover longs ahead of 2.0400.

JPY
Comment: Very dull despite political turmoil. More of the same today.

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