Consolidation phase of EURJPY continues

Review: JAPAN: Japan’s finance minister Aso confirmed that Japan has no immediate plans of buying foreign government bonds to weaken JPY further. Also, he rejected the rumour that Japan will change the central-bank act. Both announcements fuelled the ongoing JPY consolidation. EURJPY weakened by almost 0.5%. EURJPY has scope for a weakening towards the 123-124, which we expect will take place over the coming week. RSI and MACD are both pointing downwards and confirm the scenario. EURGBP: The

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Consolidation phase of EURJPY continues

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