BetOnMarkets Daily Market Report (22nd March)

Read the Daily Market Report from Dave Evans, Professional Trader


	Yen rebounds as Cyprus drama continues Morning Report: 08.30 London • This morning, markets are neutral with a negative bias as the yen comes in for some buying speculation. The Cyprus situation is still without resolution and lest we forget, Italy is still without a working government. • The yen pair s are the main movers, with the dollar pairs barely moving. The USD/JPY is the biggest faller, off by 0.70%, with the AUD/JPY and EUR/JPY down by 0.64%. Click here to view full-sized image Click here to view full-sized image Click here to view full-sized image • The pound is holding up well this morning, rising by another 0.12%, though overhead resistance looms. Click here to view full-sized image Coming up today: • There’s only one economic item of note today, German Ifo busi ness climate due at 09.00. Bet Idea: • Shorting the AUD/JPY has been difficult in recent months, but the pair currently sits just above its moving average once again. If this level were to experience a sustained break, the downside could be significant. Click here to view full-sized image A good way to play this could be a LOWER trade predicting that the AUD/JPY closes below 98.00 in 14 days. This could return 122% if successful. Click here to view full-sized image This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. Summary: Click here to view full-sized image

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