Mizuho Corporate Bank

EUR
Comment: Basing against the top of the Ichimoku ‘cloud’ after an A, B, C-type pullback where C is a little bigger than A. Expect random moves roughly between 1.5650 and 1.5750 with a sustained break above 1.5755 setting off a short squeeze to 1.5800.
Strategy: Buy at 1.5700; stop below 1.5625. Add to longs on a sustained break above 1.5755 to cover longs between 1.5950 and 1.6020.

EUR/JPY
Comment: Looking like a potential ‘broadening top’ both on the daily and on the weekly charts. Watch for something similar this week.
Strategy: Sell at 169.35; stop above 170.00. Short term target 168.20 then 167.20.

GBP
Comment: Still trying to base against 1.9800. Expect more random moves between here and 2.0000 today.
Strategy: Attempt small longs at 1.9870; stop below 1.9800. Short term target 2.0000, then 2.1000.

JPY
Comment: Bouncing strongly from the top of the Ichimoku ‘cloud’ and likely to hold above here all week. For today expect several random moves roughly between 107.25 and 108.25.
Strategy: Attempt small shorts at 107.80; stop above 108.65. Short term target 107.25.