After the strong NFP data release for the US on Friday we saw Usd/Jpy shoot up at first
then what looked like a retracement - but the pair would not hold above resistance at 102.7,
as a matter of fact it gave back all gains rather quickly
It would seem that at the moment traders confidence in the greenback is low,
and it looks like the currency is weak at the moment -
or is something else afoot?
We also see a possible high in place at 1.692 in Gbp/Usd
and Eur/Usd seems unwilling to break back above 1.39
while Aud/Usd seems unwilling to go down
My feeling is that after the dust has settled Usd/Jpy may have another attempt at
creeping back up towards 102.7 - but I do not see this level breaking again
Eur/Usd seems stuck below resistance and will probably go down towards 1.375 support
and Gbp/Usd will likely take a break from trying to take 1.7 for a while
All this means we may see a little strength in Usd next week
and maybe some big moves down for Gbp and Eur
Gl to the coming next week
then what looked like a retracement - but the pair would not hold above resistance at 102.7,
as a matter of fact it gave back all gains rather quickly
It would seem that at the moment traders confidence in the greenback is low,
and it looks like the currency is weak at the moment -
or is something else afoot?
We also see a possible high in place at 1.692 in Gbp/Usd
and Eur/Usd seems unwilling to break back above 1.39
while Aud/Usd seems unwilling to go down
My feeling is that after the dust has settled Usd/Jpy may have another attempt at
creeping back up towards 102.7 - but I do not see this level breaking again
Eur/Usd seems stuck below resistance and will probably go down towards 1.375 support
and Gbp/Usd will likely take a break from trying to take 1.7 for a while
All this means we may see a little strength in Usd next week
and maybe some big moves down for Gbp and Eur
Gl to the coming next week