Downward resumption Likely
EURUSD Something is holding down the eurusd even after Friday's bounce failed to to carry over into Monday's session. What caused the bounce on Friday was not just the weakening numbers in US labour report , but rather a sudden flush down in price for the USDJPY pair, pushing it to rechallenge the lows made in early March. A breach below 105.75 for USDJPY will signal a recovery in not only EURUSD but other commonwealth pairs : USDCAD, AUDUSD. Should USDJPY start a slow recovery from current levels, it's game over for everyone, namely eurusd and downward resumption would be likely....so controlled, not even funny here.
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