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GBP has fallen rapidly as Brexit remain at an impasse. UK PM Johnson is reportedly ready to abandon talks. Negotiations continue in Brussels. 

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Our information/charts are NOT buy/sell recommendations. Are strictly provided for educational purposes only. As always ,trade at your own risk and analysis.
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USD/CAD pierces the monthly cloud top, trades to a 26-month low. A bounce ensues though and the pair erases much of its earlier drop. A daily doji candle forms & daily RSI does not confirm the new low. The daily signals imply a correction in the bear trend could be due. 

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Our information/charts are NOT buy/sell recommendations. Are strictly provided for educational purposes only. As always ,trade at your own risk and analysis.
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The euro and yen have also been buffeted by month-end flows. But with this short-lived phenomenon now largely over, focus ought to return to the usual themes driving the two currencies; risk appetite, central banks and economic fundamentals.

In particular, JPY traders will be watching for any hints that US states are moving further into lockdown, something which could support JPY vs its G10 peers including EUR. Moreover, Japanese November manufacturing and services PMIs are released on Tuesday and Thursday respectively, which ought to garner some attention, as should speeches from BoJ’s Amamiya and Suzuki.

Meanwhile, EUR traders very much expect a hefty dose of easing from the ECB on 16 December and will be looking for further confirmation of as much from ECB President Christine Lagarde (speaking on Tuesday) and ECB Chief Economist Lane (speaking on Wednesday). Meanwhile, November Consumer Price Inflation is likely to be very soft and is released on Wednesday, while traders will also be watching Eurozone retail sales on Thursday.

EUR/JPY double top?
With EUR/JPY strongly rejecting resistance at the previous monthly high at 125.14, a double top has been put in. If this does turn out to be a meaningful double top, eyes will be on support just below the 124.00 level (26 November lows) and then the pair’s 21 and 50-day moving averages just above 123.50. Below that at the 123.00 level, there is also strong support (2 and 15 October lows and 18, 19 and 20 November lows).

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GBP/JPY wobbles around the intraday high near 138.93, up 0.7% on a day, amid Monday’s Asian trading. Even if the Japanese markets are off, the risk-on mood favors the pair to probe the one week high.

Among the positive catalysts, Brexit optimism and the UK’s intention to ease the coronavirus (COVID-19) lockdown measures, coupled with the vaccine hopes, gain major attention. Also supporting the mood could be hints of further stimulus from the Japanese Prime Minister (PM) Yoshihide Suga.

Our information/charts are NOT buy/sell recommendations. Are strictly provided for educational purposes only. As always,trade at your own risk and analysis.
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