Psychology for major markets May 1
Another Round of JPY Intervention?
EUR/USD – The Euro is capitalizing the weakness in USD. The lack of geopolitical news have given market participants some breathing room, though this may not last. The support circa 1.17 figure seems to be holding for now.
USD/JPY – The Ministry of Finance seems to have performed rounds of intervention and see the pair dropping a figure in minutes. While they will not be acknowledging it but market participants will know their presence. So far, the low is around mid 155 with previous intervention low another 5 figures lower.
AUD/USD – The Aussie has met resistance turn support level around 0.7190 area. The pair will need a push from good risk atmosphere or strong precious metal for further rally, else it looks for a retest of key technical zone.
Equities & Others – Broader risk atmosphere slightly improves but still lack fundamental drive. Any headline over the weekend will likely shift the broad risk sentiment with little forecast to be done.