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Forex Flash: G20 won’t criticise Japan, Europe won’t get a currency policy – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale feels that it would have been very unfair for Japan to be accused of currency manipulation as the government tries to help the economy to escape the clutches of a vicious deflationary cycle.

He writes, “It seems clear that the G20 meeting will result in a communiqué, probably from the G7, endorsing market-determined FX rates but falling far short of criticising Japan. So, business as usual and for those looking for a decent-sized correction to sell the yen into, another boat has probably been missed.”

Forex: USD/JPY holds the 94.00 level

The USD/JPY taken a step back today after recording substantial gains Monday. Whispers of a second round of monetary easing have clearly affected the pair, forcing massive pressure on the recently beleaguered yen. Tuesday is a differently story entirely however, as the pair now trades negatively at 94.02/03, clinging to the 94.00 level during European trading.
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Forex Flash: USD/JPY has a strong rebound off 240 minute cloud – Commerzbank

Karen Jones, Head of Technical Analysis at Commerzbank notes that USD/JPY had a strong rebound off the 240 minute cloud.
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