Mizuho Corporate Bank

EUR
Comment: Trying to squeeze higher and break above the Ichimoku ‘cloud’. Perhaps it might manage to do so late today triggering some stop-loss buying.
Strategy: Buy at 1.5545, adding to 1.5500; stop below 1.5390. Short term target 1.5630/1.56660, then 1.5700.

EUR/JPY
Comment: Holding rather unsteadily around 162.00. We still feel prices should top and might drop sharply on a sustained break below 161.00.
Strategy: Sell at 161.70, adding to 162.45; stop above 163.00. Short term target 161.50 then 159.00 medium term.

GBP
Comment: Trying to bounce from the bottom of a downward-sloping ‘wedge’ formation and could do with a bit of help from other currencies. We shall continue to watch for a reversal formation on the daily weekly charts, possibly the two in conjunction with each other.
Strategy: Buy at 1.9525; stop below 1.9400. Short term target 1.9600/1.9635, eventually 1.9800.

JPY
Comment: Same old story: a potential ‘double top’ just above 105.00. For today expect more consolidation between 103.50 and 104.75 with a drop to 103.00 possible very late in the day.
Strategy: Sell at 104.00 but be prepared to add to 104.65; stop above 105.75. Add to shorts below 103.50 for a short term target at 103.00, eventually 102.50.