Forex News – 28th October 2011

EUR

EUR/USD has gained close to +300 pips in yesterday’s on renewed optimism in the
euro-zone. China may also join leveraging the EFSF to 1 trillion euro’s but made
an accouchement they wish to receive more details on the leveraging-process.

Refusal of China to join may weaken EURUSD but it still too early to suggest as a
final decision is unlikely to be made today.

Resistance seen at $1.4248, support at $1.4150.

JPY

Japan has not intervened in the market yet and are unlikely to do so unless a major event
occurs which causes Yen strengthening. Despite many talks that FX intervention is near
further sales are required to trigger such a move.

In a scenario of an intervention, USDJPY may rise between 200-400 pips in less than 1 hour.
As JPY is being sold, expect moderate in other currencies that are traded against JPY such as
EURJPY, AUDJPY, GBPJPY etc.

Only sharp decline that reaches below Y74.00 in a short time may trigger an instant
FX intervention.

The publication cannot be distributed, copied and/or make any other usage without Bloombex Ltd.
Consent and written approval.
Although the data has been collected from reliable sources Bloombex does not vouch its accuracy
or precision. The quotes mentioned are for indication only, the implied conditions will only be the concluded
conditions when executing the trade.
The review is presented for instructive purposes in condition it will not be the key factor for trading.
The contents of this publication should not be construed as an express or implied promise, guarantee
Or implication by Bloombex.

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