USD/JPY consolidates losses after weak US retail sales

Posted On 14 May 2015

Tag: AUDJPY, EUR/CHF, EURJPY, GBPJPY, NZDJPY, USDCHF, USDJPY

• USD/JPY 119.11-34 range, Japan bids pre-119.00, stops below, soggy.
• Options anchor-bracket of sorts, slew of vanilla expiries 118.50-119.50.
• EUR/JPY better bid between 135.25-47, Bund yields higher still overnight.
• GBP/JPY steady, 187.41-74 in Asia, on course for test towards 190?
• AUD/JPY bid, yields up, int rate diffs widen, 96.48 to 97.27 then ease.
• NZD/JPY 89.03-90.07 see-saw, recent test of Ichi cloud base rejected.

• EUR/USD opens Asia at 1.1356 after soaring overnight as Bund yields jump.
• Weak US retail sales, fading Fed rate hike expectations weigh on USD.
• Asia sees consolidation between 1.1340-68, volume light.
• Stops eyed above 1.1400, break targets double top at 1.1450.
• No EZ data, Bunds-DAX foci, more corrective consolidation?

• Cable better bid between 1.5731-56 in Asia, trend high overnight 1.5768.
• Bias still up with Gilt 20s now yielding 2%+, GBP/JPY 190 targeted.
• Stops eyed above 1.5770, 1.5800, bids on dips towards 1.5700, below.
• EUR/GBP steady, 0.7208-18 in Asia, head-shoulders formation on daily.

• USD/CHF heavy in Asia, modest losses, 0.9176 to 0.9150.
• Key support below at 0.9072 on May 7, lowest since January 29.
• EUR/CHF steady between 1.0406-11, going nowhere fast.

• AUD/USD opens Asia at 0.811, trades up, 0.8102 to 0.8165 then eases.
• Profit-takes up top but bias still up, Aussie yields up, trend change?
• Decent Tokyo buying, AUD/USD stops above 0.8140 tripped on way up.
• Recent rally catches many off-guard, some now eye 0.80-0.85 range.

• NZD/USD opens Asia at 0.7482, rallies from 0.7478 to 0.7563, steadies.
• En masse short covering cited after very strong retail sales data.
• Especially good NZD buys against GBP and EUR after moves down yesterday.
• Widely recommended long GBP/NZD trade a loser, -2.5% in past 24 hours.
• NZD rally still seen corrective by many, RBNZ June OCR cut still on table.

• On back foot, push down from 93.748 retracement high early to 93.506.
• Many now targeting 93.25 February low, 92.15 Fibo 38.2% of ’14-15 rise.
• Global bond yields remain focus, USD-AUD spreads widen out considerably.

The post USD/JPY consolidates losses after weak US retail sales appeared first on Forex Circles.

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