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Greetings Again, Everyone!
Our two Major Yen Cross Units, GBP/JPY and EUR/JPY, still remain in larger Consolidating Ranges since our previous Visit with them at 2:00 GMT.
While we did find Bullish Hourly Sentiment… we also cannot Clip the larger Horizontal Ranges here, as Asian-Pacific Equities only give us slight Bullish Guidance in considering Correlative Behavior.
With the U.K. Inflation Report and Industrial Production out of the EU due soon, we may see a “Catalysts” here for Movement and Breaks of these Two… as we know with the Yen Crosses… they tend to “Behave as One” as one Unit can provide Buoyancy or Deflation for the others.
Here is the 4-Hour View of Pound Yen and the Hourly View of Euro Yen… where Bearish Momentum in the Immediate-to-Near Term is favored, as the Corrections look to continue as Price tried to pull out of the Accumulation Areas of Consolidation.
Give the Captures a Click for Commentary, and Post-Time is 7:45 GMT.
More IntraDay Detail on the Majors can be found in the just-published “Currency Majors Technical Perspective” Report, and of course, more Updates on the way as we head through Europe and into the New York Session!
