The euro rose against the dollar and the dollar rose against the yen before a key US government jobs report was out. The greenback was strong against the Japanese yen as more gains were anticipated as Japanese investors looked for higher returns abroad as the new financial year as begun.
Joseph Capurso, currency strategist at Commonwealth Bank said: "The dollar is likely to see some more gains against the yen as Japanese investors look offshore to invest in the new quarter. I expect the US dollar to stay on the defensive against other major currencies as he expected the US non-farm payrolls numbers, due out of Friday, to disappoint many."
The dollar inched up to 93.60 yen. The euro gained $1.3517. The Euro also advanced to 126.54 yen.
Watching a dip in euro/usd now. maybe later, if it gets down near the 5min 100 SMA will go long with a turn up and tight stop just below the 5M 100 SMA. Long is based on longer term charts that are starting to turn up.
Long euro/usd at 3494, sl at 3484, going to BE at 3504. We’ll see.
Happy trading
stopped out at BE. No harm no foul.