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The USD held on to Wednesday's late gains.....>

FOREX: The USD held on to Wednesday's late gains vs. the majority of the majors,
with the JPY being the only exception to the rule.
- JPY benefitted from a softer equity theme in Asia-Pacific dealing as
Wednesday's uptick in yields riled Asia-Pacific stocks.
- This allowed the DXY to consolidate above 90, last 90.10, with the USDJPY at
107.35, 20 pips from the lows.
- Technicals suggest that the close above the 55-DMA (89.596) eased bearish
pressure with above 91.751 needed to shift initial focus to 92.640 and overall
focus to 94.219-95.149. Initial support is noted at 89.442 with bears needing a
close below to signal a false break of the 55-DMA and return focus to 86.515-879
where the weekly bear channel base, Nov 2014 monthly low LT rising weekly TL are
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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