- Jefferies (based on Reuters)
On Monday the Euro appreciated against the Japanese Yen for the second day in a row. As was anticipated, the single currency encountered resistance, namely the monthly and weekly PP levels, which prevented additional gains. Ultimately, the cross settled at 134.32; however, the Euro is likely to erase yesterday's rally on Tuesday. Nearest support is located around 133.20, but it is doubtful the pair is going to fall that low.
Distribution between the long and short positions among the SWFX market participants reached an equilibrium today. Nonetheless, the buy/sell ratio slightly increased, as the percent