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Price Signal Summary - USDJPY bulls conquer 150.00

OUTLOOK
  • In FX, key resistance in EURUSD intersects at 0.9892, the top of the bear channel drawn from the Feb 10 high. A clear break of this hurdle would highlight a channel breakout and a stronger reversal. While price remains inside the channel, the trend is down and recent gains are considered corrective. A continuation lower would open 0.9633, the Oct 13 low.
  • In GBPUSD, key short-term support has been defined at 1.0924, the Oct 12 low. Clearance of this level would be bearish. For bulls, a resumption of strength would refocus attention on the key short-term resistance at 1.1495, the Oct 5 high and bull trigger.
  • USDJPY continues to climb and has conquered the 150.00 handle. Despite being in overbought territory, the path of least resistance is clearly still up and corrections, when they occur, are shallow.The focus is on 151.20, the 3.764 proj of the Aug 2 - 8 - 11 price swing.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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