Forex Zone (Forex Zone)
Czech markets  |  January 21, 2013 09:27:40

Waiting for Japonoskou central bank


Almost all major media and financial commentators are currently engaged in meeting the Japanese central bank. Early tomorrow morning will be followed by a press conference. From the mouth of Japanese politicians for several weeks hear the voices of further easing of monetary policy. Japanese yen, solely on account of these matters, weakened in several annual lows, from our point of view came very close to large areas of resistance, which we have already written. If you want to JPY traded, so we believe it would be wise for several days after a press conference tomorrow to see how it will take over the market, and then for a good setup to open shopcurrent strong trend.

As for trading on the monitored pair EUR / USD, so he did not go on Friday to 1.3420 level to which we are warned. After the morning test 1.3400 level for the rest of weakening. During a recession long offered some quick shopping on our mentioned support (1.3330 and 1.3300).

For the whole of last week, the pair EUR / USD formed trading range between 1.3260 and 1.3400. Currently, the price is practically in the middle of this range.The fact remains that the long term trend is up, so we'll see if the low margins in the market enters shoppers. In this case, we see a great chance to test the levels of 1.3420 and possibly 1.3475 and 1.3500.

This week will be posted significant macro news both from Europe and from the USA. If he responds negatively and the market price closes below the current trading range, we would finally be able to wait for the major correction, it looked (and which we considered healthy) before the ECB meeting and press conference Draghi of 1.10

For today, we expect that the price does not break out margins. We see significant supports of around 1.3285 and 1.3250. We see significant resistance around 1.3355 and about 1.3400.

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