EUR Trading Outlook (22-04-2015)

EUR/USD
• Pair dives below 200-HMA in Europe’s morning on Greek jitters
• Limited follow through, shorts cover, soft JPY lifts EUR/JPY
• EUR/JPY up near 128.75, EUR/USD follows, hits 1.0782
• Thin conditions exaggerate lift, gains erode as USD & US yields firm
• Pair slips towards 1.0730 late in day, choppy action likely to persist
• No major econ date out of EZ or US tomorrow

USD/JPY
• USDJPY higher as Nikkei and Asian stocks in lead higher
• Nikkei futures trade above 20k; up 3% from Monday lows
• USDJPY lags, ends dead square in middle of recent range
• Short term specs long above 200 hma at 119.57

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