Mizuho Corporate Bank

EUR
Comment: The Euro is trying to stabilise and bounce from support from the bottom of the large ‘triangle’. It could do with a little help from some other currencies.

Strategy: Attempt longs at 1.4540, adding to 1.4440; stop below 1.4350. Short term target 1.4700/1.4750.

EUR/JPY
Comment: Nine and 26-day moving averages bearing down and may possibly add a little downside pressure, as would a sustained break below 154.00.

Strategy: Sell at 155.45, adding to 156.00; stop above 157.00. Short term target 154.00, then 152.00.

GBP
Comment: Holding above January’s low at 1.9337 but hardly a convincing base so far. We really have to start holding above 1.9600 before we can feel a tiny bit more confident.

Strategy: Attempt longs at 1.9525; stop below 1.9300. Add to longs above 1.9650 for 1.9800 short term.

JPY
Comment: Too boring for words. We continue to favour a downside test, but predicting when this will happen is a thankless task.

Strategy: Sell at 107.00, adding to 107.50; stop above 108.25. Cover shorts ahead of 106.00 but be ready to re-sell on a sustained break below 105.50 for 105.00.