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Greetings again, Everyone!
Dollar and Yen Strength slowly grind away at most Majors and Crosses, despite The Majors still being largely Range-Bound and in Consolidation from the IntraDay Views.
The Asian Equity Markets are down as The Nikkei closes down 225 Points, and The Euro remains under Pressure ahead of The ECB on Thursday. This may begin to “even-out” with a bit of Appreciation, as most Institutional Views will favor a “Neutral” Sentiment going into the Meeting and Decision.
Here are the Hourly Views of The EUR/JPY and another look at where we are on The Euro from our last Update at 2:00 GMT.
Give The Captures a Click for various Levels, and Post-Time is 7:15 GMT.
The Euro Yen sees an Hourly “loose” Triple-Top Formation here, as Price looks towards the 132.60 Area of Daily Static Support with The Yen Appreciation, as Price breaches Immediate-Term 133.50’s Dynamic Support.
Clearance there sees the 131.40’s with Clear Bearish Sentiment In favor at this point… with a solid Violation above the 135.00 Handle Resistance to see any Bullish Sentiment resume.
The Euro sees out Magenta Dynamic Support Line that we spoke of last Update with Precision, so Rejecting or Respecting the Level is something to be Mindful of going forward, as it is a “New’ Support Area.
A Clip sees the 1.3950’s and potentially the 1.3880’s in the Near-Term…while Bullish Sentiment will only be Seen with Conviction if Price can Clear the 1.4118/20 Resistance, and remain above the Area.
We will see how “Deep” The “slight” Risk-Aversion that we are seeing progresses, as we bring in several more Updates throughout the Day!
Please check the just-published “Currency Majors Technical Perspective” Report for more Immediate-Term Details on The Majors. and please join me soon for another Update!
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