Dollar holds near five-month high versus yen

[Friday]

The dollar holds near 5-month high against the Yen after G7 meeting and Japanese Finance minister said that Yen’s weakness was not specifically discussed at the G7 meeting.

This week’s big event is the Federal Reserve’s Policy meeting on Wednesday. The Fed is widely expected to leave the rate unchanged at 5.25% and the statement to remain largely unchanged from last time.

Eur/Usd remains vulnerable despite yesterday's bounce following recent weakness that resulted in a break of 1.2640 on Friday. Market maintains a bearish tone below 1.2755 and is looking for further downside towards 1.2570 (76.4% retracement).

[Bertie]

I am short eur/usd looking to exit above the support you mentioned, I think 1.2585 would be a good level.

[Caden]

Look for strong support around 1.2640

[Wolf]

I am short too - eur/usd remains bearish while resistance at 1.2755 holds. The downside trigger is at 1.2640 - I'll be getting excited if it can break that.

[Hobbs]

The tone is bullish now after the break above 1,2735 resistance yesterday and the next resistance is 1,2830 followed by 1,2875. While the as 1,2760 support holds there is potential for more upside.

[Wolf]

EurUsd is consolidating its advance from last week where it's high was 1.2832. It is also the minor resistance before heading up 1.2880 strong resistance. Look for support at the 1.2755 level.