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Forex Flash: EUR/USD to resume down move towards 1.2740 - Commerzbank

FXstreet.com (Barcelona) - The EUR/USD failed at the 1.3225/50% retracement once again. “Current indications remain that the market will remain capped here (Elliott wave count and TD perfection set-up) and we look for the resumption of the down move. Intraday the market has found some support at 1.3000/1.2995 and this guards the 200 day ma at 1.2922 en route to the 1.2740 recent low”, wrote Commerzbank analyst Karen Jones, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low), while a deeper retracement to 1.3340 and possibly 1.3503 would happen once above 1.3225.

Forex: USD/JPY around 98.00 ahead of G20

The USD/JPY peaked at 98.36 high from 97.64 low during the Asian session. Profit taking pulled the pair to 97.80/85, but the market remains attached to the 98.00 ground. Investors will be eyeing the G20 meeting that will be focusing on the aggressive monetary easing by the Bank of Japan.
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Forex Flash: BoJ easing not yet triggering Japanese outflows – UBS

Japanese investors were net sellers of foreign bonds again last week, according to official 'hard data' released overnight. According to Research Analyst Gareth Berry at UBS, “The conclusion is inescapable – the BoJ's bold easing initiative announced on April 4th has not yet triggered a tide of Japanese outflows abroad – we are not surprised.”
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