Good morning Traders, with respect to our last review on EURGBP and GBPCHF, we like to update you.
This pair made a bounce as suggested for a target to 0.9540 area , therefore we look for a low risk intraday long entry around CMP with invalidation at 0.9165
In correlation to the above view, this pair is expected to dip to new low towards 1.1125 zone, therefore a low risk short entry intraday with invalidation @ 1.1550 is recommended.
In line with our last view recommending a sell on JPY, we like to update you that the drop in JPY strength just started and we also want to state that going by the release of PMI from Japan , a dip in report from 47 in February to 35.8 in march is worrisome and suggest a huge shrink in the manufacturing unit of the nation. This corroborates the basis for adding to our long view on USDJPY… therefore a low risk buy entry is recommended intraday as well.
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