Mizuho Corporate Bank

EUR
Comment: Trying again to hold above retracement support at 1.5500 and a very large Ichimoku ‘cloud’. We should hold above here today and try and edge back up to 1.5700.
Strategy: Attempt longs at 1.5630, adding to 1.5540; stop below 1.5500. Short term target 1.5700/1.5750.

EUR/JPY
Comment: Consolidating at a marginally lower level and below the nine-day moving average. We continue to favour a drop towards the 26-day one. Downside pressure should increase if we hold below 163.25 again today.
Strategy: Sell at 162.15, adding to 163.00; stop above 164.00. Short term target 161.00, then 158.50.

GBP
Comment: Same as it has been for weeks even though yesterday’s rally may have felt impressive at the time. Keep on trading the range, remembering that the upside is more likely to give way than the downside.
Strategy: Attempt longs at 1.9850, adding to 1.9700; stop below 1.9600. Short term target 1.9970/2.0000.

JPY
Comment: Again, one needs a magnifying glass to see that we edged up to a new recent high at 104.89. We continue to watch for small signs of topping but moves have been so slow this week that maybe we shall have to wait until next week for a more interesting chart.
Strategy: Sell at 103.70, adding to 104.20; stop above 105.25. Short term target 103.00, then 101.50.