The EUR/USD has been ranging today in anticipation of major US and European data coming out alter today. At 09:00 GMT, European industrial production data will be released. At 12:30 GMT, US retail sales data will be published along with export and import price indices. Thus, there is a lo of critical data coming out today and consequently we are unlikely to see large amounts of activity on the EUR/USD until all this information becomes known to the public. Look for support at 1.2858 and resistance at 1.2961.
USD/JPY
The USD/JPY has been climbing all week with only the occasional small retracement. At this moment, the pair is turning around a little bit as Bank of Japan Governor expresses ideas that are being taken bullishly by investors. Note that this downward movement may not continue in the long term as there is a lot of US data coming out later today and a lot of remaining long term upward pressure on the dollar. Look for support at 106.01 and resistance at 107.37.
Related Posts: