IGTFX technical analysis At the end of the week the USD and the JPY lost against its most traded counterparts. However, we wish you a relaxed weekend.
IGTFX technical analysis At the end of the week, the JPY weakened against the USD and the EUR on speculation that the Bank of Japan will step up its credit easing measures to stave off deflation. The EUR rose versus the JPY and reached 121.34. IGTFX reports The USD fetched 89.23 against the JPY. Furthermore the JPY lost versus all off its other most traded counterparts after the JPY borrowing costs fell in London and after the Nikkei English News said that without citing anyone, the central bank will likely discuss more monetary easing measures. Also the USD lost at the end of the week against 12 of 16 major counterparts on speculation that U.S. IGTFX reports payrolls will fall less than expected by economists. IGTFX reports This increased the demand for riskier investments.IGTFX reports The EUR dropped this week 0.2% against the USD and traded at 1.3600.
IGTFX reports U.S. Jobless Claims dropped to 469,000 with the end of the last month said the Labor Department yesterday. That compared with the economists. They expected a drop about 470,000.
AUD/JPY
[IMG]http://www.igtfxnews.com/research/5-march/AUDJPY.jpg[/IMG]
IGTFX reports Since the beginning of February, the AUD could recover and has been trading in a bullish trend versus the JPY. Currently, the currency pair is trading around its important Fibonacci level at 80.30 (61.8%). At the moment, the price crossed this level but it remains to be seen if the AUD could confirm its breakthrough today. IGTFX reports Furthermore a crossing MA Oscillator through the signal line from below may indicate an increasing trend.
EUR/PLN
[IMG]http://www.igtfxnews.com/research/5-march/EURPLN.jpg[/IMG]
IGTFX reports With the beginning of February, the EUR has been trading in a bearish trend versus the PLN. At the middle of the current week, the currency pair crossed its Pivot Point at 3.9177 from the top, but now it seems that the second Pivot Point at 3.8930 could be strong enough to stop the downtrend. IGTFX reports A further signal for a pull back is maybe the RSI indicator which shows us a possible recovery.
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