Flash: Yen targets significantly higher levels vs Euro, Sterling - JPMorgan

FXStreet (Bali) - The recovery of the Japanese Yen may have further legs to go against both, the EUR and the GBP, notes Thomas Anthonj, FX Strategist at JP Morgan.

Key Quotes

"Prospects for the JPY of having launched a broader recovery are much better against EUR and GBP where the crucial T-junctions in form of key-support are already in close reach at 137.77 (EUR/JPY) and at 167.88 in GBP/JPY (broken this week). Decisive hourly closes below would open significant downside to 38.2 % retracements on higher scale at 128.36 and at 153.45/152.87."

Feb 5, 2014

EUR/JPY is on the back foot below 137.00

EUR/JPY lost its hard earned positions above 137.00 and slipped to the current intraday lows of 136.85 as the JPY is growing across the board.

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Feb 5, 2014

Australia's transition towards current account surplus positive for AUD

There has been an article from Commonwealth Bank of Australia chief economist Michael Blythe, published by the AFR, doing the rounds since Tuesday. In the publication, Blythe suggests that the Australian Dollar may benefit mid long term from a change of trend in its current account balance, with the Economist speculating that Australia may be generating small current account surpluses within five years.

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