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Forex Flash: S&P 500 looks technically bullish - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective.

He begins by noting that spot is a touch lower on the week, but he is holding his bullish outlook. Looking at a daily chart he adds that bandwidth has come off, suggesting that spot is likely to range. he writes, “Hence, a retracement back within the range higher seems likely, with 20D SMA acting as support on the downside, and it has so far failed to break. Our target is 1563 (recent highs)”

Forex: EUR/JPY jumps above 123.00 on Cyprus

The Euro is trading higher right now across the board on the back of rumors of Cyprus resolution. Against the Japanese yen, the euro has jumped around 65 pips in the latest hour from 122.80 to break above the 1.2300 level and reach intraday high at 123.45.
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Forex: EUR/GBP rises to 0.8544 after headline on Cyprus

The EUR/GBP is extending daily gains as investors price in greater expectations of a solution for Cy-prus after the Cypriot ruling party saying they are confident that the country will achieve a bailout deal within EU framework over the next hours. The cross hit a high at 0.8544.
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