Euro Versus Dollar and Yen September 23rd

FX Strategy Video > Currency Pairs Analysis

EUR/USD broke through the 1.35 level on Thursday, which shows another possible down leg is in the works. The support area should now turn resistive, and with the problems in the EU - it isn't hard imagining a situation where this pair falls.

EUR/JPY has fallen to new lows, and appears that it is ready to continue the plunge. The EU is in serious trouble at this point, and appear prepared to do nothing about it. However, the USD/JPY pair will be important, as a plunge in that pair will have the Bank of Japan shorting the Yen. If you short this pair, hope the USD/JPY doesn't meltdown, and you should be fine.

Published on 22nd of September 2011
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