The weekend attacks by U.S. and European combined forces on the pro Libyan strongman Col. Moammar Gadhafi loyalists may well boost demand for the safe haven assets, the yen plus the USD, as investors stay away from more dangerous investments and measure the new geopolitical perspective. What’s moving the markets at the moment is the anticipation on improving situation in Japan along with the G7′s push to deteriorate the yen, versus anxieties regarding fighting in North Africa.
The yen had lost some ground in the course of U.S. trading on Friday. After the Bank of Japan’s intervention had been joined by various other central banks from a group of 7 countries the dollar rose from an all-time low. The Bank of Japan spent 2 trillion, while central banks across Europe allotted another $5 billion and the Fed spent $600 million selling the yen last Friday. Regardless of the central banks’ intervention, many feel that history will repeat itself once the JPY’s weakness in the immediate intervention aftermath was short lived and quite a few forex traders observed that as a excellent chance to go long, or buy the yen, as it had been on sale post interventions.
So far today, confidence is overshadowing fears. And possibly appropriately so as most probable coalition forces may put an end to fighting in Libya, while stoic Japanese will certainly return on their feet.
EUR/USD Forex Signals For Metatrader 4: The upper 20-day Bolli Band at 1.4163 was cracked by the EUR, which is a bullish signal, however some stalling is likely since the single currency almost never trades above the upper 20-day Bolli band for extended periods. The market composition is bullish by the upper Bolli band and will have to rise to allow additional move forward. The euro bulls are targeting 1.4281, November 4th high. Opinion is higher.
GBP/USD MT4 Forex Brokers FX Trading Signals: The 20-day moving average at 1.6178 has been performing just like a magnet when the sterling was to the south of it. It is a support now for the GBP. Both MACD and RSI are the optimistic areas right now. MACD is working out a bullish cross. Technical picture is favorable with the upper 20-day Bolli band at 1.6348 being eyed.
USD/JPY Metatrader Currency Alerts: The 20-day MA, currently at 81.76, is capping the topside. A crack over will more than likely launch the USD close to 84.00. RSI and MACD are working on leaving the negative region and this apparent fact, the RSI pointed sharply northern, helps make the bigger picture project a bullish feel.
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