GBP/JPY has touched the top channel line that we noted this morning. We enter a Sell Order at market (current Bid 157.37). [...]
Trade Idea - Short GBP/JPY
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China still a net importer of steel in May
China remains a net importer of steel in May, importing 53.46 million tonnes of iron ore, slightly down from April’s record 57 mio tonnes. This markes the 3rd month in a row that imports have exceeded outflows for China, a country that has been a net steel exporter since...
Bearish momentum gaining in JPY crosses
What had started out as a very quiet day has turned into a bit of a rout on the JPY crosses. EUR/JPY is trading on its lows at 135.70 and dealers report lots of longs liquidating their positions. It seems there is no major news out to drive this but many see the IMF statement on Euro-zone banks as...
Analyst Moves: RMD, AME
Resmed (RMD) was upgraded today by Deutsche Bank (DB) from hold to buy with a $32 price target, as mask sales remain strong. Shares are higher...
USD/JPY easing toward trendline support
USD/JPY is pressured by a wave of dollar weakness that has come out of left field this afternoon, fueled by a surprisingly large short-covering rally in cable. Trendline resistance broken on the daily charts last week during USD/JPY’s big rally on Friday is now being tested from the topside...
Usd/Yen soars on Payroll surprise
Usd/Yen is off to the races as the Payroll data far exceed even the most optimistic expectations. The only dampener will be the higher unemployment rate. Trading at 97.40 now, resistance is seen...