OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/JPY, break of 122.00 exposes 121.10/20 - V.Bednarik

FXstreet.com (Barcelona) - One of the currency most severely punished at the Asian open was the EUR/JPY, hammered from multiple topside failures at 125.00 last week to land near 121.50 through the inter-bank market earlier today, a new 6-day low.

According to Valeria Bednarik, chief analyst at FXstreet.com: "The pair will face its first resistance around 122.80, while only above 123.60 area may attempt to extend the advance."

The analyst suspects that after the Cyprus news, risk remains to the downside, with a break below 122.00 opening 121.10/20."

Commodities Brief: Gold rallies above $1.6k on risk-off Cyprus news

News coming from the EU this weekend, set aside political uncertainty in Italy, have driven markets into another stage of risk-off mode, as new deal on Cyprus bail-out bites on bank depositors as a way to avoid default, which has sparkled a massive fly to USD safety, including US 10 year bonds. EUR/USD fell from 1.0375 to lowest in 3 months at 1.2887, Oil is last around $92 mark from previous $93.20, and Gold broke to fresh 3-week highs at $1608, just to give back almost all gains, last at $1595.
Read more Previous

Forex: EUR/GBP tumbles through 0.8550 as Euro sell-offs

EUR/GBP is last trading at 0.8544, off recent fresh 5-week lows at 0.8527, printed on the back of a massive Euro sell-of across the board following news from Cyprus bail-out. The cross is down -1.23% from previous weekly close Friday around the 0.8651, resuming the retrace from past Tuesday's highs at 0.8793. Pound is second strongest currency among majors for the session just below Yen, while Euro is the weakest.
Read more Next
Start livechat