M.A

Dollar has made significant strength today aganst most rivals. Usd/Jpy crossed 98.40 level as japan continues to weaken jpy. But all after inventory and fomc speech, pair went touched today's lowest level. Just a few minutes back, Beige Book has pushed it to gain some quick pips. Eur/usd has lost more than 1% today. Pair started in rangish mode but fundamentals played an important part in taking this pair to 1-week low.

Usd/jpy, once again, moved against the market direction. Usd gained strength against rivals but incase of usd/jpy, usd lost. Trend for today, remains strongly bearish. Usd/jpy almost touched lowest level since 7-april. U.S treasury warned Japan not to devaluate currency on purpose. Fundamentals are not supporting this pair anymore. Monetary policy easing is an old story. Pair needs something fresh in terms of technical or fundamental. Eur/usd remained bearish except when Eurozone trade balance data came better than expected which eased selling pressure.Pair touched 1.3052 level and then eurozone data pushed it towards 1.3100 level. Overall trend is bearish and another bearish move is expected. Pair has already touched key support level and a break through 1.3153 will open doors to new bearish move.

Jpy was the prime focus. BoJ's monetary policy program continued to weaken jpy against its counterparts. Following r some important weekly events about jpy. Usd/jpy failed to achieve 100 but made a new 4 year high. Eur/Jpy went to 131.12 which is highest point since january 2010. Gbp/jpy got a new 3.5 yer high.

What can we expect in the coming week from Eur/Usd? Is there any chance of something "big"? Eur/usd has been in consildation and friday's U.S dissappointing data wasnt favorable enough for the pair to take it to any significant level. Eurozone's better industrial report was a plus point but weaker German wholesale prices data made the impact neutral. Eur/Usd was trapped, in this week, in a small range of around 1.3030 to 1.3140. It was a total disappointment for traders hoping for breakout. Next week U.S CPI data, U.S Initial Jobless claims and German ZEW Economic Sentiment are in focus.

This pair took full advantage of usd's weak performance in current week. Pair bounced back from weekly support zone and crossed 1.5400 level but since then it is trading bearish. Major resistance levels are not broken this week due to initial losses faced by this pair. Short term trend is strongly bearish and technical indicators showing support at 1.5310 and then at 1.5240.

Usd/jpy, once again, broke 99.90 resistance but reversed without touching 100. As expected, usd/jpy broke through 98.00 today and now it may be ready to start its journey to 100. Consolida`tion period is more likely to be over. We have some important news coming today. So fundamentals will play an important role today. Edit:- Worse than expected U.S retail sales data will affect pair bullish moves and just minutes after news, we can see sudden bearish move. After this news, hopes for 100 level in current week r over.

Eur/usd went to 1.3138 which is near to top level of 8th-march as seen in image. We can see small reversals from this level. But overall trend will remain bullish. Reistance zone for today is around 1.3160 to 1.3165. Support zone is around 1.3070 to 1.3075. Usd/jpy has touched important resistance level of 90.87 today but came back from there. I am expecting a corrective move towards 90.00 level or even further before touching 100.

It looks like Usd/jpy bullish trend is shy to touch 100 level. Pair has spent a lot of time above 99 in previous 3 days but unable to break through resistance zone. This psychological level is taking time. Overall trend for past 3 days has been slightly bullish after strong bullish trend on first day of this week. I am still hopping for 100 level to be broken this week. Most of this hope will depend on upcoming fundamentals from Japan. Major resistance zone for usd/jpy is still around 99.85 After positive and better than expected economic data from eurozone, eur/usd is rallying. It has crossed 1.3100 level and heading to first resistance zone of 1.3130.

Eur/usd managed to break through the week's psychological level of 1.3000 but till now, we cannot see any "big" bullish move which could result in change of sentiments from bearish to bullish. Resistance zone of around 1.3050 is not touched yet but the pair is moving near to it. So the sentiments remain bearish. Usd/Jpy. Expect anything upwards atm and usd/jpy will achieve it (be realistic though). Usd/jpy is trading above 99 and has a new 46-month high. Last time it traded above 99 was in May 2009. Investors are eyeing at 100. Technically next resistance zone is around 99.85.

Weekly performance of gbp remained mixed against usd. Pair remained bearish in first 3 days and then, due to usd's bad data, pair managed to offset weekly losses. Overall trend remained bearish and we can expect significant downward moves in the coming week. Weekly support zone is seen at 1.5020 to 1.5230.

After BoJ's surprising decisions, usd/jpy moved up sharply this week and closed above 97.50, a new high since june 2009. I can safely assume that 100 will not be a big surprise in short term. If we carefully look at performance of this pair over last 2 days of this week, it has gained more than 5%. It is not a surprising gain if we look at past performance of this pair. Last time when BoJ intervened, in late 2011, we saw a similar move. Similarly currency pair's current 52-week change is around 26%. Even though 5% move in 2 days is big because of "2 days" but not big if we look at overall movement.

BOE decided not to expand its asset purchase program. BOE will keep rates at 0.5%. This news supported GBP to offset its previous losses and gbp/usd went to 6 week high. Above news has developed a sentiment among investors that GBP economy has enough power to avoid recession.

This has been very interesting week for forex market. Another weakening day for usd, especially against eur, but.............. of course not against jpy. BoJ decided to implement more aggressive easing today. U.S jobs data report for the feb was very good but U.S jobs data report, for march, came weaker than expected. Eur/usd gained support from this fundamental news and broke 1.3000 level.

We were expecting monetary "easing" from BOJ but they decided surprise everyone. Announced monetary policy is much looser than expected. Kuroda earned unanimous support for his decisions. Asset purchases will not be reduced until 2% inflation target is achieved. Similarly banknote, restricting maximum levelof bond purchases was was dismissed. BOJ's meeting has caused significant impact on jpy. Usd/jpy went to 95.67 from 92.84 within 4 hours.

Today gbp remained steady against its counterparts. UK construction data improved a little but remained lower than expected which had a little affect on gbp/usd. But bad u.s data changed trend to short term bullish trend.

Eur/Usd started today's session with bearish move but bad U.S data has made it another bullish day. Even though this small bullish reverse pattern has not changed over bearish trend but most fundamental day traders may have benefited from it. Bearish moves this week are mainly due to fundamental reasons. Technicals are not in support of bearish eur/usd. BOJ meeting, tomorrow, will be the primary focus of investors. Investors have high expectations from Kuroda and his comments will have high impact. Usd/jpy was steady int he start of today but usd weakened after bad fundamentals. Current dip might take usd/jpy to support zone of 92.55 to 92.60.

Eur/usd is on its way to support level of 1.2750. Yesterday pair gained strength due to bad u.s data and easter holidays in europe. Cyprus has decided to ease some Capital controls. It will raise daily transaction from eur 5000 to eur 25000 usd/jpy bounced back from 92.57. Technically short term trend is unclear and longterm trend remains bearish. BOJ is likely to take bold stance on monetary policy. Kuroda said that he will do whatever necessary in order to beat deflation.

Eur/usd remained bearish when market opened. This downwards trend was mainly due to Cyprus fears. Now eur/usd trading is 31pips higher than opening price. This gain was due to weaker than expected U.S manufacturing data. Investors are focusing ECB meeting this week where Cyprus questions will more likely to dominate.

UK government is considering to ease monetry policy and has set inflation target of 2%. Just 0.7% GDP growth is expected this year. Gbp/Usd settled lower last week, as expected. Next week, it is likely to touch support level of 1.5100 and then further decline will take it to 1.5000. Cannot see any good upcoming fundamentals from UK. Technically it is bearish so next week will most probably be another bearish week for this pair.

Usd/Jpy is more likely to make bullish moves in the next week but at the same time there r some factors which could make it fall. BOJ meeting on Wednesday and thrusday will play decisive role in defining usd/jpy's trend. Investors have high opes from new BOJ team. It is expected that Boj will increase QE in order to provide more liquidity to economy. So most of us, thinking about usd/jpy to break resistance zones, might be wrong. Usd/Jpy can go to support levels to shock us. Eur/usd. As said in my previous post, it is more likely to be bearish next week.

Eur/usd trend, as expected, remained bearish for the current week. Only small "corrective bounce backs" were seen and nothing significant. This continuous bearish pattern is due to continuous bad performance of eurozone. Economic data, this week, was less than expected. Government formation process in Italy is very slow and looks like it is stopped. Cyprus is also at risk of exclusion from eurozone. Next week we can expect another bearish week for eur/usd. Support zone for eur/usd is around 1.2730 to 1.2735. Next support is around 1.2675. Weekly trend for usd/jpy remained slightly bearish but sentiments remained bullish. Investors were hopefull that BOJ will be successful in its eforts to weaken jpy. Japan is in no mood of buying foreign bond, Kuroda's statement. Pair will more likely to make more bullish moves next week and first resistance zone lies at around 95.05 to 95.10. Next resistance zone lies at around 96.80 to 96.85.

Just a quick news about Gold. back to back quarterly losses. It is second time since 2011. Eur/usd's trend remained strongly upward but volume remained low due to bank holiday. Resistance lies at 1.3050

Better than expected data of german retails sales was the main cause of strength in euro today. U.S data was a little weaker but not significant enough to stir in the market. Eur/usd is more likely to continue downward trend because at this time we cannot see any major support from technical or fundamental point of view. Longterm Usd/jpy remains strongly bearish whereas short term trend is slightly favoring bearish. Usd/jpy found good support near 93.90 and next support lies at 93.55 for today.

Eur/usd, after a little correction, is more likely to head for next support level of 1.2700. For today it is more likely to cross 1.2820 and for this week, if trend remains bearish, support level zone at 1.2640 to 1.2645. Resistance zone, for the week, lies at 1.3050. Cyprus has pushed eur/usd a lot and there is no sign to fully recover from it in current week. After a strong dip, usd/jpy is now on its way to correction. Hourly chart is indicating a rangish situation. Support zone lies at, just below the today's low so far, 93.50. If it breaks, pair will head towards the next support zone of 92.80. Resistance zone lies at around 94.60.

Upcoming week for usd/jpy is slightly favoring upward trend. Usd/jpy weekly close was a little higher than opening price. We might see gap, in favor of usd/jpy, on Monday. Usd/jpy is more likely to break last week's high. By looking at rally on last day of the week, eur/usd will more likely to cross 1.3100 level in coming week and if it does, next resistance zone is around 1.3175. If eur/usd successfully breaks this resistance zone, eur/usd will be into longterm bullish mode.