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Forex Flash: USD/JPY rally pauses - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that USD/JPY´s rally has paused since last Friday.

He believes that three factors lay behind the JPY appreciation against USD and the other major currencies. Firstly, he sees that JGB yields are still trading volatile in the aftermath of the BoJ´s recent landmark easing announcement. Secondly, with the G20 around the corner, focus looks set to fall upon the issue of “currency wars”. And finally, weak US economic data looks set to continue in the short term. Overall, he still is expecting USD/JPY to rise gradually after the JGB stabilises and concerns over international criticism weaken. He writes, “Nonetheless, weaker US data may slow the pace of JPY weakness in the near future. We maintain our view that USDJPY rises to 100 as of end-June and it keeps rising gradually toward 102 as of end-December.

Forex: GBP/USD recovers the mark of 1.5335/37

The GBP/USD has rallied off the 1.5300 level (1.5304 intraday minimum) Monday, recovering the mark of 1.5335/37 in recent moments. At the time of writing, the cross finds itself in negative territory still, trading at a slight off of -0.07% off its opening during the onset of US trading.
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Forex Flash: Bunds find support at 20-day MA – RBS

Bunds found support at the 20-day MA after having a correction to 144.91 Fibonacci projection from the February 13 – March 4 impulse wave. According to Technical Strategist Dmytro Bondar at RBS, “Retracements from this move proved to provide key level for the last few weeks. It is important to note that the recent price action does not form a Head and Shoulders pattern due to a downwards sloping neckline.”
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