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Price Signal Summary - USDJPY Bulls Remain In The Driver's Seat

OUTLOOK
  • In FX, EURUSD remains below last week’s high of 1.1012 (Jun 22). The latest pullback is considered corrective - for now. Attention is on 1.0845, the 50-day EMA and a key support. A clear break of this average would strengthen a bearish threat and signal scope for a deeper pullback, opening 1.0804, the Jun 15 low and 1.0733, the Jun 12 low. Key resistance and the bull trigger is at 1.1012. A breach would resume the recent bull cycle.
  • The primary uptrend in GBPUSD remains and the recent move lower appears to be a correction that is allowing an overbought trend condition to unwind. Support to watch lies at 1.2641, the 20-day EMA. The recent break of 1.2680, the May 10 high and a bull trigger, strengthens a bullish condition and sights are on 1.2849 next, the 0.618 projection of the Mar 8 - May 10 - May 25 price swing. A break would confirm a resumption of the uptrend.
  • USDJPY is holding on to its recent gains. The break higher last week retains the bullish technical short-term outlook, with 144.40 the next upside level, the 1.382 projection of the Jan 16 - Mar 8 - Mar 24 price swing. Price has also added to gains on the recent breach of the top of a bull channel, at 141.80, drawn from the Jan 16 high. Note that moving average studies remain in a bull-mode position, highlighting an uptrend. Key short-term support is at 140.92 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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