Forex: GBP/JPY extends recovery above 152.10

FXstreet.com (San Francisco) - The Sterling is extending its recovery against the Japanese yen after bottoming at 151.10 and currently the GBP/JPY is trading above the 152.00 level. Initially, the pair fell from 152.70 in the American opening but pair bounced at the mentioned 151.10.

At this moment, the GBP/JPY is pricing at 152.05, 0.71% negative on the day. However, the pair is slightly bullish according to the FXstreet.com Trend Index with indicators such as CCI and Momentum pointing north while the MACD is neutral and the Stochastic is bearish in the 15-minutes chart.

Below the 151.00, next support comes at 150.85 ahead of 150.45 and 150.00. On the upside, resistances are at 152.30, 152.70 and 153.40.

Apr 26, 2013

Forex: USD/CHF consolidates at 0.9425 after falling to 0.9400

The US dollar is trading lower today's session against the Swiss franc with the pair falling from the 0.9450 region to test the 0.9400 level in the early American morning. After that, the USD/CHF has been trading sideways just around 0.9425.

Forex Flash: EUR/USD seen lower in the medium term - Commerzbank

When will the Fed end or reduce QE3 and when will the ECB cut rates again? These two questions are currently dominating the FX market, according to the Commerzbank analyst team. "In both cases the short term economic development is likely to be decisive and on both sides of the Atlantic recent economic data has been rather disappointing", they comment. "The fact that a rate cut has now become more likely is obviously putting pressure on the euro".