Monday 21 June 2021
More market wobbles and Yen demand in Asia as Bitcoin tumbled but we've seen a decent turn around in bond yields and risk sentiment as European trading gets under way.
I still say the jury is out on USD and risk sentiment but I've banked pips on my short GBPJPY across the core pairs per my earlier tweet but will continue with the same rall-sell strategy when upward momentum fades. Patience and discipline are key of course and not being greedy as ever.
GBPUSD: Another fall this time extended to look at decent 1.3785 bids/support per Friday's order board and pips banked per my tweet. I remain a rally seller but still expecting some dip demand in this extended move. Keeping an eye on EURGBP and GBPJPY as always.EURGBP: A good hold of 0.8575-80 but failing above 0.8600 so far as some GBP demand returns elsewhere.
GBPJPY: A decent old support/pivot line at 151.30 holding the fall in Asia as core pairs also found support on firmer risk tones.
I remain a GBP rally seller across the pairs but being patient as the new week reveals itself. Risk to the downside though still overall.
EURUSD: Finding support at 1.1880 amid firmer risk EURJPY demand but sellers poised.USDJPY: Finding support this morning below 109.80 amid some firmer risk sentiment plays after capping at 110.30-50 area again on Friday. Options at 110.00 in play again today.EURJPY: 130.00 proved at step too far and now testing previous 130.80 support on the latest risk-on rally but sellers poised still.USDCHF: Undepinned now at 0.9200 amid firmer risk sentiment and with the SNB ever vigilant but sellers at 0.9250 now.EURCHF: Holding 1.0940 now again with SNB shadow/help ever present but sellers poised into the key 1.1000 area
AUDUSD: Finding support at 0.7480 after another AUDJPY led fall but equally a rally above 0.7500 on firmer risk in early Europe. USDCAD: Moving higher still to 1.2480 amid the generally firmer USD tones with CADJPY demand also helping in Asia but equally the reverse capping atm.
Let's continue to be careful out there in all things. Staying safe must be our main priority still. Have a good week everyone.
Interbank rates: 08.45 BST