Mizuho Corporate Bank

EUR
Comment: Now trading below the Ichimoku ‘cloud’ and below the middle of the range since March. Big deal! For this morning expect prices to try and hold above the 1.5450 area, pushing up towards 1.5650 late this afternoon.
Strategy: Buy at 1.5500; stop below 1.5400. Add to longs on a sustained break above 1.5650 for 1.5700 short term and then 1.5750.

EUR/JPY
Comment: Looking fractionally more top-heavy but nothing conclusive as we hold inside a potential ‘broadening top’. This week we expect a re-test of the top of the Ichimoku ‘cloud’ at 166.70.
Strategy: Sell at 167.85, adding to 168.35; stop above 169.25. Short term target 166.85, then 166.00.

GBP
Comment: The pound is very oversold against the dollar and momentum is neutral. We expect this latest sell off to end ahead of 1.9400, some time this week. Watch for signs of basing this morning.
Strategy: Possibly attempt tiny longs at 1.9550; stop below 1.9400. Short term target 1.9750.

JPY
Comment: Yet another cautious upside probe this morning. Who cares? Yet more of the same with an expected drift this afternoon.
Strategy: Sell at 108.25; stop above 108.65. Short term target 107.70, probably 107.30.