EUR/JPY Not Taking USD/JPY, GBP/JPY Cues - EUR-crosses Look Soft
- EUR/USD continues to follow its daily 8-EMA lower.
In a week where central bankers' speeches are set to dominate the headlines, FX markets may have already started to hint at their biases for upcoming moves. After a promising start yesterday, both USD/JPY and GBP/JPY posted outside engulfing bar/key reversal patterns that typically portend to bullish outcomes. Yet there are a few outliers: mainly, the EUR-crosses.
--- Written by Christopher Vecchio, Currency Strategist
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