After the Boris Johnson government faced multiple defeats in the Parliament, the possibility of no-deal Brexit has declined.

The USD/JPY is at a standstill after yesterday's banking holiday. The volume in the currency pair has been subdued as investors await the Prelim GDP data from the U. S. today, followed by Japan's Prelim Industrial Production number in the evening PST. The USD/JPY is sitting at a key juncture, the inflection point of our 1st tier downtrend and 2nd tier uptrend lines. Therefore, we expect the USD/JPY to awaken with all of the incoming news.

The Cable is climbing as investors find an appetite for risk ahead of America's Prelim GDP number. A better than expected Prelim GDP would likely send the major Dollar pairs higher since it would give support to the argument that the global economy is stabilizing. Yesterday's better than expected CBI Realized Sales data gives the Cable some added strength ahead of America's GDP release. With Britain's Nationwide Home Price Index coming tomorrow, the Cable should have some real directional ammo to play off of. A global sign of economic healing could add fire to the uptrend's belly with the Cable creeping towards April highs. On the other hand, if the U. S. Prelim GDP number disappoints, we wouldn't be surprised to witness a fire sale.

The EUR/USD is flying, bolting through all three of our downtrend lines after bouncing off our previous 1.2987 support.  Investors came in defense of 1.30 with serious volume.  The currency pair is presently testing April 24 highs and it appears to have more room to run should today's data from the U.S. come in positively.  The EUR/USD's considerable strength is rooted in better than expected earnings from Spain's Santander, the EU's largest bank.  Since we are in a financial crisis, positive earnings from banks can be a real driving force.  However, all bets are off until the currency pair can plow through April 24 highs towards April 13 highs.        

The USD/JPY is at a standstill after yesterday’s banking holiday.  The volume in the currency pair has been subdued as investors await the Prelim GDP data from the U.S. today, followed by Japan’s Prelim Industrial Production number in the evening PST.  The USD/JPY is sitting at a key juncture, the inflection point of our 1st tier downtrend and 2nd tier uptrend lines.  Therefore, we expect the USD/JPY to awaken with all of the incoming news.