Despite the fact that FX markets have become a lot brisker over the course of the last week we are still missing game changing breaks, strong enough to establish new trends and what seems to be looming in this context though is a stronger setback in risk markets and closely correlated, equivalent rally of the USD, notes JP Morgan. In EUR/USD, JPM thinks that having displayed the first decisive close of the red lagging line below the cloud yesterday, it would only take a lower confirming close below 1.3636 (200 DMA) to re-open the downside for a straight extension to 1.3477. "A failure to display such breaks ... (full story)