The kickstart FX video takes a technical look at the EURUSD, USDJPY and GBPUSD. The USD was mixed to start the US trading day but is starting to move higher versus the three major currency pairs.
EURUSD is now back below its 100-hour moving average 1.07706, and the 100-day moving average of 1.0781. Staying below both tilts the bias more to the downside technically.
The USDJPY broke above the 2024 high last week and corrected down to test that area between 148.80 and 148.88.. The low price today reached 148.92 and has bounced higher. We are currently trading at 149.18 after successfully testing the old highs.
The GBPUSD will tire earlier in the Asian session, after breaking back above the important 1.2600 level last week. Going forward, I consider the 1.2600 level an important bias-defining level for the GBPUSD. The price has come down to test that level today,, but is finding support buyers so far at least.
If you are interested in winning, know the levels that are important. For a great piece on the importance of WINNING at all costs, see Adam’s weekend post.