Today’s highlights:
EURJPY continues to surge dramatically higher and is nearly at our 149.25/27 target, the “neckline” to the 2007/2008 top.
USDJPY stays bullish for our 120.00/10 core target – the 61.8% retracement of the entire 1998/2011 bear market – which we look to cap at first.
EURUSD intraday break above the 1.2578 barrier keeps the current correction/consolidation phase in place. However, our broader bias stays bearish.
GBPUSD continues to tread water at the recent lows, and risk stays lower through 1.5593/90 to test the 1.5429/22 price lows.
EURGBP spotlight stays on medium-term channel and price resistance at .8018/66, but only above here would set a base.
USDCAD above 1.1390/1403 would see the core uptrend resume for medium-term channel resistance at 1.1600.
AUDUSD has completed a small top and we stay bearish for a retest of key support at .8546/41.
Read the full report: FX Daily