Watch the Yen

USDJPY is flirting with its 200-day SMA at 101.67 after US GDP disaster… US GDP printed at -2.9% Ann. QoQ (far from the -1.8% expected and well below the first economists’ ‘projection’ of +2.6%).
A break on the downside could bring us to the next strong support at 100.75.


(Source: Reuters)

If we have a quick look at EURJPY, we can see that since the pair closed below its 200-day on June 11, it has been unable to resurface above it. The 200MA stands now at 139.00 and EURJPY trades within a tight range 138.57 – 138.90 today.


(Source: Reuters)

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