== $ == Banks Orders Book == $ ==

[Abo Abdullah]

EUR/USD

[Abo Abdullah]

Commerzbank Strategy & Technical Analysis

[Abo Abdullah]

Bank of America Merrill - Our Bullish USD View Invalidated, But Not On USD/JPY

"Our bullish USD Index and bearish EUR/USD views were proven invalid with the break of 80.49 and 1.3452, respectively. With US yields poised to fall further (US 10s target 2.544%, potentially 2.474%/2.459%), the USD should continue to depreciate against both G10 and EM FX. Indeed EUR/USD targets 1.3644/1.3711 (2m channel resistance & Feb-13 highs), BofA clarifies.

"HOWEVER, THERE IS ONE EXCEPTION: USD/JPY. IT REMAINS BULLISH," BofA notes.

"The impulsive intra-day advance from old 3m Triangle resistance, now support at 97.94 say the bull trend is resuming 105.80/106.00, potentially 109.80. A break above 100.62 CONFIRMS," BofA projects.

"Given this backdrop of stronger EUR/stronger “risk” currencies and a weaker ¥, the likes of EUR/JPY and SEK/JPY are particularly compelling long ideas. EUR/JPY targets 138.12/140.96, while SEK/JPY targets 16.678. Look to buy dips," BofA advises.