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Forex: EUR/JPY find bids ahead of 122.00

EUR/JPY is last trading at 122.88, off recent fresh Feb lows at 122.23 printed in late London session, as Japanese PM Abe lands in Washington and debate over who's going to be next BoJ gov starts heating up. The cross has lost -1.21% from previous Asia-Pacific open, mostly on Euro weakness, as EUR/USD dips to fresh 1-month lows at 1.3184 and breaks below ascending trend line coming from July's 1.20s lows.

“The pennant formation in EUR/JPY has been a real winner over the last few weeks,” says FXWW founder Sean Lee. “and buying dips towards the lower end below 122.00 looks like a decent plan,” he suggests. From the technical perspective, “In the hourly chart technical readings remain bearish, despite slightly oversold,” notes Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “while in the 4 hours chart bearish momentum remains strong, supporting more slides ahead, as long as 123.30 caps the upside in the short term,” she concludes.

Valeria locates support levels at: 122.20, 121.70 and 121.10, while resistance levels at: 122.90, 123.30 and 123.80.

Forex Flash: RBA Stevens testimony repeats same old theme - NAB

Following RBA Stevens speech, ultra-dovish NAB economist Spiros Papadopoulos, concludes that "overall, nothing in his remarks thus far to change our view..." The bank looks for further cuts in May and June while still
expecting the RBA to stay pat in March.
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Forex Flash: BOJ client survey points Mr. Kuroda as the most popular candidate - Nomura

As markets continue to be focused on the next head of the BOJ, Nomura conducted a client survey to understand market expectations. Nomura conclusions can be read below:
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