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Forex: EUR/JPY up over 2%, will higher lows be printed?

EUR/JPY carved out a bottom sub 123.50 early in the last European session to currently float 300+ pips higher at 126.50, with the last 2h spike - courtesy of Treasury's Mr. Brainard headlines - putting into question the failure of the uptrend.

Following yesterday's early evidence that, from an order flow perspective, the latest EUR/JPY may be the onset of a more meaningful correction in what appeared to be a market close to reach exhaustion/climax levels, the bullish tone recovery may potentially jeopardize the formation of a potential lower high, a technical pre-requisite which would raise odds for further short term downward pressure. The sharp appreciation today, almost 2%, now targets last week's 127.7 trend high. On the downside, 126.00 - Feb 6,7 swing low - followed by 125.50 - Feb 7, 8 swing high - should see buying interest emerging.

Forex: EUR/USD keeps 1.3400 following Weidmann's intervention

The single currency has been trading under pressure on Monday with the downside exposed at 1.3360 but following the Weidmann's comments on no-overvalued euro, the EUR/USD has recovered some ground to 1.3400 where the pair remains trapped.
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Forex: AUD/USD knocks fresh 3-month lows at 1.0250

With AUD/USD currently down about -0.68% for the week so far since previous weekly close Friday, the pair is trading at 1.0251 bids near session and fresh 3-month lows, ahead of NAB business confidence in Australia, only risk event for the Asian session, in a day with China closed for holiday again. As FXWW Sean Lee notes: “AUD sentiment remains quite weak and its losing ground again against the EUR and the NZD but barrier protection at 1.0250 and AUD/JPY buying are providing support.”
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