Mizuho Corporate Bank

EURUSD
Comment: Having comfortably met our target at 1.5740, we shall now wait and watch for signs of stalling, probably somewhere between here and 1.5900. Note that the Euro is not overbought and momentum is bullish, so there is no point trying to jump the gun.
Strategy: Possibly attempt tiny shorts at 1.5800; stop above 1.5915. Short term target 1.5630, maybe 1.5400.
Direction of Trade: →

GBPUSD
Comment: We have almost completed a 'double top' with a break below recent lows at 102.57, and below the top of the Ichimoku 'cloud' at 102.20, adding weight to our view. Late today allow for a test of these.
Strategy: Sell at 103.05, adding to 103.50; stop well above 104.25. Add to shorts on a sustained break below 102.95 for 102.60 short term and eventually 100.00.
Direction of Trade: →

USDJPY
Comment: Still dull as ditchwater as we hold rather unsteadily around 162.00. We continue to watch for topping activity, then possibly a sharp fall on a sustained break below 161.00.
Strategy: Sell at 162.55; stop above 163.25. Short term target 161.50 then 159.00 medium term.
Direction of Trade: →↘

EUR/JPY
Comment: Dull as ditchwater as we hold 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 161.80, adding to 162.45; stop above 163.10. Short term target 161.50 then 159.00 medium term.
Direction of Trade: →↘