Today’s highlights:
EURJPY is vulnerable to a snap back correction, but on a mediumterm basis we stay bullish for a test of “neckline” to the 2007/08 top at 149.25/27.
USDJPY continues to look stretched, but while 114.89 holds, the trend can stay higher for now .
EURUSD has been capped at the 1.2578 barrier to keep the immediate risk lower.
GBPUSD holds its break of important support at 1.5752/22, keeping us bearish for 1.5429/22 next.
EURGBP spotlight remains on medium-term channel and price resistance at .8021/66, where we look for selling to try and show.
NZDUSD above price/55-day average resistance at .7950/79 is needed to target the .8036 high.
USDCAD remains at risk to further corrective weakness.
Read the full report: FX Daily