Hi There,
Looking at a 30 day chart we see a high of around 159.60 and a low of 151.75ish. Now on a 5 day we have been treading between 158 and 156 and currently looks like the 156 mark may be broken lower, however there are to ecomonic factors playing impacts:
1) as USD/JPY and the EUR/JPY cross mirror each other the USD?JPY pair is getting pulled down in turn the EUR/JPY- with the hostage issue in iran
should good news for the hostages occur the pair should rise
2) Fed speach due out in about 45 minutes.
I believe this will break further into the 155 range however am curious to see what this pair will do after 10:30EST and further to any news on the hostages in iran.
breakin news from white house "There has been no escalation of tensions on our part with iran"
Looking at a 30 day chart we see a high of around 159.60 and a low of 151.75ish. Now on a 5 day we have been treading between 158 and 156 and currently looks like the 156 mark may be broken lower, however there are to ecomonic factors playing impacts:
1) as USD/JPY and the EUR/JPY cross mirror each other the USD?JPY pair is getting pulled down in turn the EUR/JPY- with the hostage issue in iran
should good news for the hostages occur the pair should rise
2) Fed speach due out in about 45 minutes.
I believe this will break further into the 155 range however am curious to see what this pair will do after 10:30EST and further to any news on the hostages in iran.
breakin news from white house "There has been no escalation of tensions on our part with iran"