FX Market Commentary 1/22/2015

FX - EURO

THE EURO closed higher on Wednesday. The lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned decline, monthly support crossing is the next downside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

FX - YEN

THE YEN closed lower on Wednesday. The lowrange close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to lower prices are possible nearterm. If it extends the decline off January's high, the 62% retracement level of the OctoberJanuary rally crossing is the next downside target. Closes above the 10day moving average crossing would confirm that a shortterm bottom has been posted.

FX - SWISS FRANC

THE SWISS FRANC closed lower on Wednesday. The lowrange close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, January's high crossing is the next upside target.

FX - STERLING

STERLING closed lower on Wednesday. The highrange close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.