FOREX TRADERS

[ultimatepick]

I guess I can go to bed now ... my EUR/JPY should be good to go to at least 150.00 if not 149.20.


[08:52 EUR/JPY: All The Hallmarks Of Another Barrier Play] London, November 16.
A healthy bull run from levels around 151.10 but again 151.50 proves to be a level just too far. PBOC"s Wu set the stage for a stronger Yen but the market is now well conditioned with regard to the reserve diversification story. Interestingly the Asian market continues to be more sensitive to any mention of
reserve shifts. Away from the Chinese rhetoric the other main issue was provided by the BOJ with its rate announcement and press call. No surprises from the Bank with no change in policy and a less hawkish than expected delivery from Governor Fukui.
EUR/JPY has been rejected at 151.47, just shy of the rumoured 151.50 barriers. The pullback has reached 151.33 and fresh bids have surfaced. As we saw last session with EUR/CHF the market is likely to keep knocking on the option barrier door and it will probably open today but profit taking usually cancels out any expected stop loss follow through when knock-outs are targeted. On the option expiry front large 149.20 and 150.75 strikes roll-off today.



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