Jiming Huang / Blog
Pivot (invalidation): 5.7040 Our preference Long positions above 5.7040 with targets at 5.7270 & 5.7400 in extension. Alternative scenario...
Pivot (invalidation): 0.6810 Our preference Short positions below 0.6810 with targets at 0.6775 & 0.6760 in extension. Alternative scenario...
Pivot (invalidation): 1.3275 Our preference Short positions below 1.3275 with targets at 1.3250 & 1.3235 in extension. Alternative scenario...
Pivot (invalidation): 0.9940 Our preference Short positions below 0.9940 with targets at 0.9890 & 0.9870 in extension. Alternative scenario...
Pivot (invalidation): 108.10 Our preference Short positions below 108.10 with targets at 107.75 & 107.65 in extension. Alternative scenario...
Pivot (invalidation): 1.2520 Our preference Long positions above 1.2520 with targets at 1.2580 & 1.2600 in extension. Alternative scenario...
Pivot (invalidation): 1.1040 Our preference Long positions above 1.1040 with targets at 1.1075 & 1.1085 in extension. Alternative scenario...
It seems that market participants have been left unimpressed by the statement of the Bank of Japan, pushing the demand for JPY higher. Without much surprise, the BoJ has kept its short- and long-term interest rates at 0...
As we had expected the SNB held policy rate at -0.75% and reiterated wiliness to intervene in FX markets for benefit of the overvalued franc...