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Forex: EUR/USD Retreats to 1.3300, EUR/JPY to 117.50...Reversal?

Forex: EUR/USD Retreats to 1.3300, EUR/JPY to 117.50...Reversal?

John Kicklighter, Chief Strategist

EURUSD and yen crosses marked their first tumble in nearly a week, and the pace of the move teases of a bigger reversal. However, there is reason to be just as skeptical of this decline as the thrust higher that preceded it. A lack of risk-based influence is once again a serious element that is absent for a bigger, fundamental bear wave. Instead, we were running on individual catalysts - like Juncker's suggestion that the Euro is 'dangerously high' and Japan's Economy minister suggesting a rapid depreciation may have negative consequences. So will we see continuation or not? How should we position on the possibility? We discuss this and more in today's video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.