USD/JPY closed last week below the important 105 - 105.30 support. Calendar-light and holiday-shortened week ahead probably means lower participation and some choppy price action, though a substantial move in either direction wouldn't come as a surprise. 102.5 - 103 remains the next target on the downside.
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Swissie pulls back
Swissie staged a massive pullback yesterday, worth about 135 pips with a daily range of 170 pips. Position squaring at quarter-end and before FOMC meeting and U.S. election were all cited as factors for the risk-off move.
The pair broke and closed below 50, 100 and 200 DMA and stalled ahead of 0.9725. It made a marginal new low overnight before a weak rally. 0.9750 - 0.98 looks like a good sell zone. 0.97 is the initial support.
The pair broke and closed below 50, 100 and 200 DMA and stalled ahead of 0.9725. It made a marginal new low overnight before a weak rally. 0.9750 - 0.98 looks like a good sell zone. 0.97 is the initial support.
Week ahead
In the week ahead we have month-end, quarter-end and in Japan also fiscal-year-end, plus Good Friday holiday. With quite heavy calendar to boot, that promises lively action with a lot of volatility.
List of potential high impact events (times GMT+1):
30.03.2015 ---------- ALLDAY ------ EUR ---------- German Prelim CPI m/m
30.03.2015 ---------- 16:00 ---------- USD ---------- Pending Home Sales m/m
31.03.2015 ---------- 02:00 ---------- NZD ---------- ANZ Business Confidence
31.03.2015 ----------…
List of potential high impact events (times GMT+1):
30.03.2015 ---------- ALLDAY ------ EUR ---------- German Prelim CPI m/m
30.03.2015 ---------- 16:00 ---------- USD ---------- Pending Home Sales m/m
31.03.2015 ---------- 02:00 ---------- NZD ---------- ANZ Business Confidence
31.03.2015 ----------…