What do the BIG trade intraday

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hearing that some CB sold eurusd in the 60ies earlier on

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GBP..... Market seems a little uncertain as to what to do this morning with risk coming back slightly but still trading the lower end of the range from friday ... I look to sell the first rally in Cable at 1.6250-70 (friday highs) and also sell GBPYEN anywhere above 147.30...... on the reverse side if you are looking to buy GBP its probably best against EUR at 0.8850 which was the break level last week.

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eur jpy looks a bit heavy since we has startet i think we will continue that move trom this morning .. usd jpy res 90.43 90.60 sup 89.70 89.30 eur jpy re 128.00 128.40 sup 126.55 126.00 have a good start

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GBP; Markets are struggling to keep up with the raft of regulatory proposals flowing from embattled politicians in the US and Europe. President Obama’s Volcker Rule has not been universally welcomed by his fellow policy makers. Alastair Darling was equivocal in his response pointing out that these measures would not have prevented the Lehman Brothers collapse (there being no depositors at that institution). The Chancellor hoped for a globally co-ordinated policy response to the crisis rather than on a country by country basis (see News below). The markets will tend towards risk aversion until these issues are resolved. In the UK, the CIPD said that the unemployment situation is much worse than being shown by official data. Gbp has suffered during the risk sell-off, but eurgbp remains below the 200 dma (at 0.8842) and is bearish for the medium until that changes.

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JPY; For today, the risk off sentiments from last week may have a break due to the comment by Darling and the talk of Bernanke being appointed for a second term. In the market, the buying interest still remains below the Asian low in USDJPY/EURJPY from Japanese investors. We think USDJPY will be firm on the downside today, so look for a level to re-build the short position. On the topside above 91.00 is heavy due to Japanese exporter towards the month end.
SELL USJDPY at 91.30 with SL at 91.90

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hearing asian cb buying eurusd around 1.4070

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Yen continues to firm through resistance
USD/JPY: Outside day lower already today with negligible rebound since support breach of 90.35. Risk down to 88.95 next, then 88.25 into month-end
EUR/JPY: More aggressive outside day plunge through the critical 127.00/126.90 foundation. Near term target 125.60, February risk to 124.40 and 122.45

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Technicals

EURUSD - may break below last Thursday's low of 1.4030 in the near future and extend the downtrend started at 1.5145 in November 2009 to the 1.3735/1.3800 support zone.
Tech sup comes in at 1.4030/1.4005/1.3910
Tech res comes in at 1.4130/1.4215/1.4265

Market talk remains the 1 yard of exp on Friday with a strike at 1.4000

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EUR; we are back above 1.4000 now and risk is on the front foot , Asia are short so I expect the first move to be a short squeeze , hopefully to the 1.4070/80 level again where I will go short , yesterday there were decent cb style offer at this level and the sovereign rating issues in Europe haven’t gone away overnight.
On the downside 1.3980 should hold on the day , the market is thick with 1.4000 gamma today and dips are just going to encourage further buying for European corporate .

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P; Our short term target in eurgbp at 0.8650 has been met, but gbp continues to trade constructively with mpc’s Sentence adding his usual hawkish stance yesterday. We still like eurgbp to trade lower but think that a long gbpusd position could be more profitable today as risk currencies look to reverse their recent falls against the dollar. From a technical point of view gbpusd held up well overnight even as eurusd spiked lower and the 200 hma (shown in green above) which has capped rallies for the past week or so is now being challenged. We will go long on a clean break of this, looking for a 100 pip rally. The FT article reporting that the BoE has hit its ceiling on gilt purchases is unlikely to affect the currency until clarification from the BoE on Feb 4thas to its future QE plans.

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hearing stops USDJPY above 90.60

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HSBC a very aggressive seller of eurusd from 65 down to 52