Markets

Yen pairs driving core pairs higher, again

It's all about the yen again as core pairs break higher in a rush 12 July 2016

No news out that I can see but the trend is your friend and right now the trend is yen selling.

I mentioned earlier that GBPJPY was a prime mover and that's now posted 136.00 to send cable up to 1.3142 ahead of more offers/res at 1.3150.

AUDJPY up to 78.96 helping AUDUSD take out the offers at 0.7600 to post 0.7628. Stronger offers/res await at 0.7650

EURJPY has chewed through the strong offers/res at 115.00 and lifted EURUSD to 1.1127. Decent offers reported at 1.1150

I warned earlier that the market was still looking something special out of Japan, and it seems they still do. This is now turning into a general risk-on sentiment.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx