Update on Eur/Jpy Fx insight shares

The EURJPY has been in a sideways up and down market of late/even today. Earlier the price fell toward the 38.2% line at 97.841 (of the move up from August 10th) and floor support at 97.956 (see chart above). The low came in at 97.877. The price rotated higher from there and over the last 7 bars, the close has remained above the 100 hour MA (blue line in the chart above). This is the line in the sand for buyers now. On the topside, the last 4 days has found willing sellers against the 98.807 level. Needless to say, a move above this level will now be eyed by the longs from below. Get above, and the 99.02 and the 99.164 (high from last week) become the next targets (see chart above). full article  

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Germany held a debt sale on Monday

German Chancellor Angela Merkel, who continues to strongly advocate for a Eurozone with Greece remaining as a member, warned to coalition peers over the weekend to “weigh their words” with regards to a possible depart from Greece.

Merkel was quoted on an ARD television as saying that any remarks on Grexit were damaging, as the crisis reaches a “decisive phase.” The comments follow the plea by a leader of her Bavarian Christian Social Union governing partner, who called for Greece to detach itself from the Euro area.

Alexander Dobrindt, the CSU’s general secretary, told today’s Bild newspaper, that Greece is expected not to be a part of the 17-nation euro area next year. ... link to FULL ARTICLE

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AUD/JPY continues to downtrend in the Asia-Pacific

After losing ground for a fourth consecutive day on Monday, AUD/JPY continues to downtrend in the Asia-Pacific, having reached as low as 81.22, a price not seen since July 26. Broad JPY strength is behind the move lower after Japanese exporter sales at the Tokyo fix.

Technically speaking, AUD/JPY has extended below the 200-day EMA (valued at 81.64 today) and below the 81.50 Fibonacci retracement zone of the decline from 88.64 to 74.48. At the time of writing, the cross is quoted at 81.35, recording a 0.3% loss so far this Tuesday... LINK TO FULL ARTICLE



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