A USD/JPY top is possibly forming

EUR/USD in a mid-body (1.2445) resistance recheck… USD/JPY below 117.36 would hint of a more lasting top in place… EUR/GBP has unfinished business to conduct below the 0.79-handle… EUR/SEK trades towards resistance at 9.2900-9.3050… USD/SEK is supported at a 7.4270 mid-body point and should soon trade to and through 7.4820… EUR/NOK ups the probability for a near-term base in place, but also over 8.5000 is needed for confidence… NOK/SEK shows respect to dynamic resistance just above 1.10, but must drop back under 1.0805 for bearish confidence to grow… AUD/NZD seems ready to break lower – watch 1.0940 now… EUR/HUF rejects the recent low. Also over 306.50 would start targeting 310.85… Dec Bunds trade with a near-term bid undertone, but watch both 151.51 below and 152.49 above… The US Dec tens is possibly forming a bearish “Triangle” so keep an eye on 125-27… The Dec S&P500 contract exhibits a bearish divergence. Below 2,051 could trigger some safety-stops… EuroStoxx50 trades on a bullish note, but should slow into resistance at 3,229\3,301… The Jan Brent Crude contract could extend losses so don’t let 77.56 out of sight… Spot Gold is challenging resistance at 1,203\1,223…

Read the full report: Technical Alert