Forex Flash: USD/JPY correction lower may not be complete – Commerzbank

FXstreet.com (Barcelona) - The USD/JPY is holding above the 240 minute cloud (the base of this is currently located at 87.81). “This has under pinned the market since the 13th December and it is possible that the correction lower is already complete”, wrote analyst Karen Jones. “However, we are slightly biased to a slightly deeper sell off towards the 86.13 2 month uptrend”, where it would still be well placed to recover, according to her. “Our target remains 93.32 – the measurement higher of the triangle”, she continued, pointing to 84.99 and 83.50 (50% retracement of the move up from September) in case of a break below 86.13.

Jan 17, 2013

Euro bulls ready to rock

The bloc currency has been suddenly awaken from its congestive pattern around key resistance at 1.3300, spiking to 1.3350 after a sudden bout of risk appetite, posting two-day highs and approaching to..

Forex Flash: Eurozone expected to exit from the crisis gradually throughout 2013 – Deutsche Bank

Elke Speidel-Walz, Chief Investment Strategist for Deutsche Bank, believes that the beginning 2013 will bring a deepening of recession in the Eurozone and that growth should not kick in again until the second quarter of 2012 “when improving external demand will be one factor stabilizing the Eurozone economy.”