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Forex pairs in this Article » USD/JPY (Barcelona) - Having climbed overnight from a low at 81.85, just above Fibonacci S2 support at 81.77, USDJPY climbed to post a morning high at 82.31.

The push higher followed commentary from LDP leader Abe, who repeated his calls for a more aggressive stance on monetary policy from the BoJ and saw spot find resistance at the hourly 100 MA. Since, spot has ranged with little definitive momentum and found a layer of support at the 50 MA at 82.21 where the daily pivot point sits as well. Calendar wise, the European session has seen German Import Price Index numbers come in mixed while French Consumer Confidence beat forecasts at 84/83. The headline event of the European session however is UK GDP at 09:30 GMT.

The Danske research team recommend going long at 81.66 for an 82.84 objective with a stop at 81.07. Elsewhere, European stocks are up but off their highs, US futures are following suit alongside the majority of commodities while Spanish and Italian yields are marginally down and stable.
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