USDJPY: The pair’s recovery triggered off the 118.05 level on Oct 15 2015 remains intact and intact. The immediate risk is for USDJPY to retarget its range top at 121.23 zone. On the upside, nearby resistance stands at the 120.00 level. Above here will aim at the 120.50 level
USDJPY: USDJPY lost its downside momentum to close higher on a long-tailed candle on Thursday. This development leaves risk higher with a possible run at the 119.50 level. Above here will clear the way for more strength build up towards the 120.00 level with a break targeting the 120.50 level. Further out, resistance comes in at the 121.00 level where a violation willContinue reading
GBPUSD: Maintains Bullish Momentum, Targets Higher Prices GBPUSD: With GBP returning above the 1.5304 level, further upside offensive is likely towards the 1.5450 level. Further out, resistance stands at the 1.5500 level where a violation will aim at the 1.5550 level. Its daily RSI is bullish and pointing higher suggesting further upside.
EURGBP- The cross extending its weakness the past week leaving risk of more weakness on the cards. We are however likely to see a price consolidation or even a mild recovery higher. And we think its support located at the 0.7196/70 zone will provide the platform.
THURSDAY, May 17, 2012 - U.S. factories stepped up production in April. The Federal Reserve’s Industrial Production Index — which measures the output of factories, mines and utilities — rose 1.1% from March. Manufacturing production climbed 0.6% after falling in March, led by cars, and furniture and business equipment. Factories are operating at a high capacity but unemployment and weak wage growth continue to weigh on the U.S. recovery.
WEDNESDAY, May 30, 2012 - Housing prices fell in the first three months of the year. Nationwide, average sale prices of single-family homes fell 2% from the fourth quarter and 1.9% from a year ago, according to the S/Case-Shiller home-price index. The index is now at its lowest level since the housing crisis began. However, the decline in prices moderated, boosting hopes of a recovery.