Released last data indicator Germany PPI m / m which was just released by Destatis shows signaled the existence of positive developments on the nation’s economy.
The impact of data releases to the pair trading the EUR / JPY noon today (20-05), which was observed to occur rebounds strengthening of the Euro. The forex market responded by pushing the pair EUR / JPY which is in the range 112.16.
Germany PPI indicator of actual data m / m was reported increased to 0.8%, which were previously predicted to fall to 0.6% from 0.7%. Euro still has the potential to strengthen further. This pair is expected to face resistance at around 113.65.
In currency trading the Asian session today (20-05), the Yen looks slightly weaker against the U.S. Dollar. Pair USD/JPY is currently engaged in the range of 91.80.
This morning was just released Prelim GDP data for Japan’s first quarter-2010, where Japan’s economy recorded 1.2% growth, better than the previous quarter at 1.0%. But the figure is still slightly below expectations at 1.4%.
The technical, USD / JPY is still in a bullish trend, but the strengthening yen could still happen given rise to a safe haven investment breakout lately. Yen long-term outlook is still projected to weaken due to several factors, namely the first is still haunted by Japan’s deflation, so that monetary policy will remain loose for some time to come, then the weak yen is still needed to sustain the export sector in which a motor current economic recovery . Support is strong enough to be found in the range of 89.00 to 88.00.
USD / JPY is likely to weaken to a level of 90.40 if the past level of support at 91.15. Strengthening U.S. Dollar to Yen can occur when passing on the level of resistance level of 92.15 to 92.65.
In currency trading the Asian session today (17-05), seen the euro currency weakening slightly against the U.S. dollar. Pair EUR / USD is currently engaged on a range of 1.2347.
Euro has dropped and again reaches its lowest level in the range of 1.2329 since the fall of Lehmann Brothers in mid-2008 past. Seeing that investor confidence is still very low against the Euro, do not close the possibility of the Euro to continue to decline.
The technical, Euro zone is still in oversold, negative sentiment is very high making the Euro continues to survive in the zone. Stay alert for a potential rebound, especially the Euro has reached a low in October 2008 and although there is no guarantee the Euro will not drop deeper.
EUR / USD likely to weaken support level at 1.2180, if past the 1.2329 level. The strengthening euro may occur if the past level of resistance at 1.2485 to the 1.2580 level.
Signal EUR/USD for long term
- BUY EUR/USD @ 1.2600, TP 1.3000
good luck
In currency trading the Asian session today (14-05), looks Sterling currency weakening slightly against the U.S. Dollar. GBP / USD is currently engaged in the range of 1.4605.
After the political problems are over, where Cameron was appointed as the new prime minister to replace Mr Brown, now back the government focused on cutting the budget deficit in the UK.This deficit-cutting efforts are expected to hamper growth in the UK, so Sterling remained under pressure.
The technical, Sterling is still bearish, but it is still very difficult to get out of the oversold zone.Although sentiment against Sterling is still quite negative, still anticipating the potential for further correction. Strong resistance can still be found in the range of 1.5000 and the closest support can be found in the range of 1.4340 to 1.4185.
GBP / USD likely to weaken to a level of 1.4340 if the past level of support at 1.4460. Sterling reinforcement can occur when passing resistance at the level of 1.4670 to 1.4740 level.
Forex | makepips | 
May 20, 2010 14:17 | 
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