FED interest rate decision failed to push US dollar
lower and Euro rally stalled. Japanese Yen also failed to drop further and may
start rising bit by bit. Tomorrow we have Non Farm Payrolls data, which will be
key event of the week. It may hint as to whether Euro rally will continue or
not. It can also provide new optimism for Yen bears. If that fails we may see
significant correction in prices as Yen will strengthen, particularly against
British pound. gbp/jpy may collapse to 134.00 level in the coming weeks and
eur/jpy to 113.00.
Eur/usd will also down. At least short term
correction to 134.00 level should take place. So, let us wait to see further
development in price action after NFP.
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