Mizuho Bank. Recommendations for major currency pairs

	Mizuho Bank. Shopping advice
Euro / dollar
Commentary	Euro has one of the strongest closures the week of October last year, although the pair still remained within the normal correctional settings. As we approach the crucial 1.4200 mark, we expect growth in implied volatility and enhance bovine Momentum.
Strategy	Buy at 1.3985 but only if you are willing to increase the position at lower to 1.3800. Stop should be placed below the 1.3700, a short-term goal - 1.4050, and is expected to increase substantially with the initial expectation of 1.4200 and then to 1.4550.
Dollar / yen
Commentary	Last week ended with the formation of dozhi near the level of correction of Fibonacci, the week was closed to the minimum level since February. Open interest in futures contracts to one-third of maximum levels of 2007, underlining the lack of interest in carry trades. The implicit volatility is expected to grow over the next two weeks as the couple will seek direction for further movement. We remain in camp bears.
Strategy	Open small short position of 94.80, but only if you are willing to increase their growing to 96.00 with a stop order above 97.00. The original objective - 93.55 next 92.50.
Pound / Dollar
Commentary	Pound showed the strongest closing since November, although still within correctional settings, with highs of 2007. Moving averages are now served bychi signals, implied volatility and Momentum also look positive for the bulls.
Strategy	Buy from 1.5900 to an increase in the reduction of 1.5750 and a stop below 1.5500. Increase confidence in the long positions break above 1.5955 with the expectation of an increase to 1.6100/1.6200 in the short term.