New day and another new JPY low

<p>JPY remains the trade of 2013, making a fresh high of 99.67. It is now within a whisker of the psychological level of 100 and […]</p>

JPY remains the trade of 2013, making a fresh high of 99.67. It is now within a whisker of the psychological level of 100 and the 2009 high of 101.45. Demand for EUR/JPY gave the single currency a boost, triggering stops above 1.3050 and making a high of 1.3069.

In other news AUD remained range-bound, trading within the 1.0400-50 range despite two negative data releases. The NAB business conditions index was deemed weaker than expected, along with a lower Chinese CPI release at 2.1% below the 2.5% consensus. All eyes are now on growth and activity data scheduled to be released on Monday.

Sterling traded lower in late US trading, falling from 1.5320 to 1.5240 as the markets eye data releases today in the form of industrial production, trade balance and housing data.

 


EUR/USD

Supports 1.2970-1.2900-1.2750 | Resistance 1.3080-1.3140-1.3200


USD/JPY

Supports 98.800-97.50-95.80 | Resistance 99.70-100.00-101.45


GBP/USD

Supports 1.5220-1.5180-1.5050 | Resistance 1.5320-1.5380-1.5450

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.