| Action Insight Daily Report | Dollar and Yen Retreat as Bernanke Moves Closer to Second Term Dollar and yen retreat mildly as the situation for Fed chairman Bernanke to win the vote for second term became more optimistic over the weekend. Senate Republican leader Mitch McConnell said in a interview that Bernanke will have "bipartisan support in the Senate". Intrade, a Web exchange for futures contracts based on political outcomes, today saw 95% odds Bernanke would be confirmed, up from 88% on Jan. 23. A senate vote on Bernanke's confirmation will be held this week and Bernanke will need to 60 votes to avoid procedural hurdle. Full Report Here... | | Candlesticks & Ichimoku Analysis | Trade Idea: EUR/USD - Sell At 1.4220 As the single currency has continued to edge higher and with the Tenkan-Sen turned upward since Friday, suggesting further consolidation above last week's low at 1.4029 would be seen with mild upside bias for retracement towards the Kijun-Sen (now at 1.4220), however, renewed selling interest should emerge below the 50% Fibonacci retracement of 1.4415 to 1.4029 at 1.4222 and resistance at 1.4257-64 (previous support turned resistance) should hold, bring another decline later to 1.4015 (50% Fibonacci retracement of 1.2885 to 1.5145) but reckon 1.3950 would hold on first testing due to loss of downward momentum. Full Report Here... Trade Idea: USD/JPY - Sell At 91.00 As dollar has recovered after intra-day marginal fall to 89.71 (Friday's low was 89.78), suggesting further consolidation would take place and retracement to the Kijun-Sen (now at 90.84) is likely, however, renewed selling interest should emerge around the Ichimoku cloud bottom (now at 90.98) and bring another decline. Below said support would bring stronger retracement of early upmove from 84.82 to 89.50, however, reckon downside would be limited to 88.83 support and price should stay well above next support at 88.32, bring a strong rebound later. Full Report Here... | | Featured Technical Report | Market Highlights | GBP/JPY Daily Outlook Daily Pivots: (S1) 143.78; (P) 145.50; (R1) 146.41; More GBP/JPY recovers mildly after hitting 144.58. While some sideway trading might be seen, another fall is still expected with 147.18 resistance intact. As noted before, consolidation from 139.69 should have completed at 150.68 already. Below 144.58 will target 141.99 support first. Break will affirm this bearish case and target 139.26 low next. On the upside, though, above 147.18 minor resistance will mix up the near term outlook and we'll stay neutral first in such case. Read more... All Technical Outlook Reports | Daily Top Movers | Top 5 | Current | Last | Change
(Pips) | Change
(%) | | NZDJPY | 64.57 | 63.70 | +87 | +1.35% | | AUDJPY | 81.84 | 80.86 | +98 | +1.20% | | CADJPY | 85.62 | 84.89 | +73 | +0.85% | | NZDUSD | 0.7151 | 0.7092 | +59 | +0.83% | | EURJPY | 127.88 | 126.97 | +91 | +0.71% | Last Updated: Jan 25, 07:05 GMT Currency Heat Map Daily View | USD | EUR | JPY | GBP | CHF | CAD | AUD | | USD | | | | | | | | | EUR | | | | | | | | | JPY | | | | | | | | | GBP | | | | | | | | Last Updated: Jan 25, 07:05 GMT | | Economic Indicators Update | | GMT | Ccy | Events | Actual | Consensus | Previous | Revised | | 0:30 | AUD | PPI Q/Q Q4 | -0.40% | 0.10% | 0.10% | | | 7:00 | EUR | German GfK Consumer Sentiment Feb | 3.2 | 3.1 | 3.3 | 3.4 | | 15:00 | USD | Existing Home Sales Dec | | 6.00M | 6.54M | | | | Suggested Readings | Fundamental Highlights Technical Highlights | | | Forex Brokers | | | Sponsors | 
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