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Price Signal Summary - USDJPY Key Support Zone Remains Intact

OUTLOOK
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  • In FX, a bull cycle in EURUSD remains in play and the pair is trading closer to its latest highs. Recent gains have resulted in a break of 1.0895, the May 16 high and a bull trigger. This confirms a resumption of the uptrend and a flag formation on the daily chart. Sights are on 1.0933, 61.8% of the Dec 28 - Apr 16 bear leg. Support to watch lies at 1.0788, the May 30 low.
  • The trend condition in GBPUSD is unchanged and remains bullish. Recent fresh fresh cycle highs and a print above 1.2801, the May 29 high, confirms a resumption of the uptrend. Moving average studies remain in a bull-mode position, reinforcing current trend conditions. Sights are on 1.2859, 1.236 projection of the Apr 22 - May 3 - 9 price swing. Initial support to watch is 1.2702, the 20-day EMA.
  • The trend outlook in USDJPY is bullish and the Wednesday rally signals the end of the recent corrective pullback. The move higher means that for now, the key support zone, between 154.72, the 50-day EMA, and 154.05, a trendline drawn from the Dec 28 low, remains in place. A clear break of this key zone would be bearish and highlight a stronger reversal. For bulls, a move above 157.71, May 29 high, would resume a short-term uptrend.
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  • In FX, a bull cycle in EURUSD remains in play and the pair is trading closer to its latest highs. Recent gains have resulted in a break of 1.0895, the May 16 high and a bull trigger. This confirms a resumption of the uptrend and a flag formation on the daily chart. Sights are on 1.0933, 61.8% of the Dec 28 - Apr 16 bear leg. Support to watch lies at 1.0788, the May 30 low.
  • The trend condition in GBPUSD is unchanged and remains bullish. Recent fresh fresh cycle highs and a print above 1.2801, the May 29 high, confirms a resumption of the uptrend. Moving average studies remain in a bull-mode position, reinforcing current trend conditions. Sights are on 1.2859, 1.236 projection of the Apr 22 - May 3 - 9 price swing. Initial support to watch is 1.2702, the 20-day EMA.
  • The trend outlook in USDJPY is bullish and the Wednesday rally signals the end of the recent corrective pullback. The move higher means that for now, the key support zone, between 154.72, the 50-day EMA, and 154.05, a trendline drawn from the Dec 28 low, remains in place. A clear break of this key zone would be bearish and highlight a stronger reversal. For bulls, a move above 157.71, May 29 high, would resume a short-term uptrend.