Obama signs temporary suspension of debt ceiling

Dow Jones is reporting that U.S. President Barack Obama has just signed a bill in the White House to delay the deadline for a new debt ceiling. Democrats and Republicans will now have more time to reach a compromise.

Feb 5, 2013

Forex: USD/JPY holding above 92.00

USD/JPY is currently at 92.17, off fresh session and weekly lows at 91.94, losing so far since previous weekly close Friday a -0.64% , and retracing from fresh 30-month highs printed at 93.18 by mid London session. Now, according to FXstreet.com Independent Analyst Ivan Delgado: “climbing back above the 92.50, where a descending 20-hourly EMA meets with recent broken support is a pre-requisite to strengthen the notion of a re-attempt to new cycle highs.”

Forex: EUR/JPY gives back all Friday's gains below 125.00

EUR/JPY has bounced so far from fresh weekly lows at 124.16 to present 124.53, down -1.71% from previous weekly close Friday. According to FXstreet.com Independent Analyst Ivan Delgado: “The next key support at 123.80 - Jan 31 high - may interfere on the prolonged selling interest off overbought levels,” Ivan says, adding: “A break lower exposes 122.80-123.00 - Jan 25 high,” he concludes.