Forex Flash: EUR/JPY expected to stabilize at 128.80/85 area – Commerzbank

FXstreet.com (Barcelona) - Having bounced off the 125.00 support, the EUR/JPY looks well placed to tackle the 128.80/85 minor Fibonacci retracement, “which is regarded as the last defense for the 131.12 recent high”, and ideally we would like to see stabilization here, however we remain unable to rule out a deeper retracement to the daily cloud at 123.21/120.46”, wrote analyst Karen Jones, pointing to the 20 and 55 day ma at 124.25/67 directly below 125.00. “Key support remains the 118.74 February low. Recovery from here would target initially 131.12 – last week’s high en route to our target 136.71 (upside measurement from a wedge)”, she added.

Apr 17, 2013

Forex Flash: Are markets pricing in global disinflation? – UBS

The recent gyrations in commodity markets are likely an over-reaction to idiosyncratic factors in the gold market. However, “there is a risk that markets are now pricing in global disinflation coupled with policy futility. Although the Canadian dollar is not a commodity bloc currency in the strictest sense as its energy exports only represent a minority of total exports, falling commodity prices is still something Canada can do without in an environment where demand for discretionary exports is already waning.” notes Research Analyst Gareth Berry at UBS.

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Apr 17, 2013

Forex Flash: Bunds to find support at 20-day MA – RBS

According to Technical Strategist Dmytro Bondar at RBS, “Bunds remain long from the 145.50/65 support level, as oscillators started to exit the overbought condition and a good support is expected at the 20-day MA of 145.35 and 145.11 Fibonacci level, being 138.2% projection from the Feb. impulse wave.”

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