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Forex: EUR/JPY makes quick +100 pip bounce to 128.66

FXstreet.com (Barcelona) - A volatility shock was felt in the FX market, affecting most pairs, including the EUR/JPY as it erased its losses and dropped below the 128.00 to print a session low at 127.58, but quickly bounced back up and jumped to 128.66, as of writing.

The G20 meeting is taking place, with central bankers and finance ministers focused on talks about central bank stimulus and fiscal targets. IMF’s Lagarde has been making remarks about the subject, saying the ECB is only one with some room left for monetary policy and that the BoJ has clearly innovated. The rumor that a French bank was in trouble was about Societe General, which shares plunged by 6% on talks of big loses. After being denied by a representative, the market became calmer and retraced the move partially.

UBS analysts are bullish: “Initial resistance is at 129.74, a break above would open 132.05 ahead of 134.38”, wrote analyst Gareth Berry, pointing to support at 126.44 ahead of 124.94.

Forex: GBP/USD jumps to 1.5310, intra-day high

After recovering from intra-day bottom at 1.5215, the Sterling traded in recovery mode against the US Dollar with the pair rising to test the 1.5295 resistance. The GBP/USD was rejected initially but after a brief period of retracement to 1.5265, the pair has suddenly jumped to break above the 1.5300 level and test intra-day high at 1.5310.
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Forex: EUR/USD hits fresh highs after strong swing

The EUR/USD has seen wild moves within the last minutes. As soon as it touched the 1.3025 level, weighed by rumors of trouble in French banking, the pair found buyers and bounced sharply toward fresh daily highs.
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