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Forex: EUR/JPY briefly dips below 124.00

The euro extended losses versus the yen and briefly dipped below the 124.00 mark after a G20 draft was published and showed members pledged to refrain from competitive devaluation.

EUR/JPY slipped to a fresh 3-day low of 123.78 in recent dealings, although it found support and bounced slightly. At time of writing, the euro-yen cross is trading around 124.10, where it records a 1.2% loss on the day.

In terms of technical levels, if the EUR/JPY loses the 123.80 zone, next supports are seen at 123.43 (Feb 8 low), 123.00 (psychological level) and not much until 121.00. On the upside, resistances could now be found at 124.75 (Feb 13 low), 125.19 (100-hour SMA) and 125.94 (intraday high).

Forex: EUR/NOK jumps on Olsen comments

The Norwegian krone is sharply depreciating against the euro after Norges Bank’s Olsen joined the ‘currency wars’ fashion, signalling that the central bank is ready to counteract any undesirable strength of the NOK...
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Forex: USD/CAD challenges session highs, around 1.0020

After flirting for a few moments with the parity level, the Canadian dollar is now resuming its weakness against the buck, trading close to session highs around 1.0020 on Wednesday....
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