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Forex Flash: USD/JPY looks bullish ahead - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.

He notes that spot is down on the week and he is maintaining his bullish outlook. Looking at his daily chart he notes that RSI has reached levels where recently spot has bottomed out. He writes, “With bandwidth stalling, it suggests spot is likely to range (rather than breakout lower). The 20D SMA is also providing downward support. Our target is 96.00 (the high over the past few days).

Forex Flash: Peripheral European bond markets are narrowly mixed today - BBH

Brown Brothers Harriman analysts note that peripheral bond markets are narrowly mixed today and on the week, Italy's 10-year benchmark yield was down 6 bp and Spain's was 10 bp lower.
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Commodities Brief – Precious metals in flux as potential Cypriot bailout eyed, silver recovery stalls at 28.80

The yellow metal was dealt a minor setback earlier as events in Cyprus and an overall optimism towards a bailout for the beleaguered country reached new heights Friday. With the ECB and others carefully watching in the next few hours for any developments, gold prices fell to the 1605 level, which proved to be the bottoming out region today. Prices have subsequently inched higher after the US open to trade presently at USD $1608.40 per oz. A weekly close at the 1610 level would reiterate confidence and signal another weekly close in the positive after last week.
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