EUR/GBP surges higher while EUR/JPY and USD/JPY recover
EUR/GBP surges higher while EUR/JPY and USD/JPY recover as Japan business sentiment turns negative in Q1.
EUR/GBP rallies further
EUR/GBP is on track for its eighth straight day of gains with the October highs at £0.8434 to £0.8447 acting as minor resistance. Further up lies the January peak at £0.8473.
Potential slips may find support along the 200-day simple moving average (SMA) at £0.8381.
EUR/GBP daily chart
EUR/JPY rises
EUR/JPY so far hit a two-month high at ¥161.78 above which the October to March downtrend line and the 200-day SMA can be spotted at ¥162.68 to ¥162.95.
Below last week's high at ¥161.27 meanders the 55-day SMA at ¥160.31 which may act as potential support.
EUR/JPY daily chart
USD/JPY sees minor bounce
USD/JPY has gotten close to our downside target at the late September ¥146.49 high before bouncing back. Below it lies the late August low at ¥143.45.
Resistance between the December to late February lows at ¥148.57 to ¥148.65 is expected to be revisited. Only a currently unexpected bullish reversal and rise above the early March high at ¥151.30 would question our medium-term still bearish forecast.
USD/JPY daily chart
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