EUR/USD USD/JPY GBP/USD

EUR/USD:

EURUSD has continued to push higher after confirming a Head and Shoulders bullish reversal chart formation, with prices now testing resistance at 1.3266, the 76.4% Fibonacci retracement of the 4/12-6/7 downswing as well as the upside target implied by measuring the distance between the head and neckline of the H&S formation. We can look below the bottom of a rising channel established from late June (now at 1.3128) to position for a selling opportunity.

  

 USD/JPY:  Japanese Yen Breaks 2009 High

   

Daily Bars 

  

8480 (2009 low) has been broken and focus is now on the all time low just below 80 (1995 low). Former supports, 8520 and 8560, are now resistance. A move above 8625 would begin to suggest that an important low is in place.

 

GBP/USD: Bulls Clear Key Resistance, Challenge 1.60

Strategy: flat  

GBPUSD has cleared the top of a rising channel set from the lows in May  as well as the horizontal barrier at 1.5831, with prices now stalling ahead of the psychologically significant resistance at the 1.60 figure. A push above this boundary would open the door for a challenge of 1.6377.

Source: Dailyfx