We think EUR/USD is finding a base here; USD/JPY: 137:50 key – SocGen | Forexlive

Societe Generale Research sees a limited scope for EUR/USD downside in the near-term, and highlights the importance of the 137.50 level in USD/JPY.

“We think EUR/USD is finding a base here, partly because the US
rates market has priced a lot in now, and partly because the European
rates market has more to price in,”SocGen notes.

“The USD/JPY 200-day average is at 137.70 and if that were to
break, it would trigger a spike down for the yen, at least temporarily,”
SocGen adds.

For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here.