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Price Signal Summary - USDJPY Bull Condition Remains Intact

OUTLOOK
  • In FX, EURUSD maintains a softer tone and the pair continues to trade closer to last week’s lows. Support at the 50-day EMA which intersects at 1.0975, and a trendline support at 1.0979, remain exposed. The trendline is drawn from the May 31 low. A clear break of both levels would strengthen a bearish threat and open 1.0867, the Jul 7 low. First key resistance is seen at 1.1150, the Jul 27 high.
  • GBPUSD traded lower Tuesday highlighting an extension of the bear cycle. Attention is on the 50-day EMA at 1.2747 (pierced). Note too that the base of a bull channel, drawn from the Mar 8 low and a key support, lies at 1.2738 today. A clear break of the 1.2747-38 support zone would strengthen a bearish theme. This would pave the way for weakness towards 1.2674, the Jul 6 low. First key resistance is at 1.2996, the Jul 27 high.
  • USDJPY bulls remain in the driver’s seat and the pair traded higher yesterday. Price has breached 143.22, 76.4% of the Jun 30 - Jul 14 downleg. The break strengthens current bullish conditions and signals scope for a continuation higher. The focus is on 144.20 next, the Jul 7 high, and key resistance at 145.07, the Jun 30 high. On the downside, key support has been defined at 138.07, the Jul 28 low. Initial support lies at 141.13, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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