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USD/JPY: Extending gains13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement, where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish, however, highlighting a later break and continuation towards 107.50, and higher. Meanwhile, support is down to congestion around 106.00, and should underpin any immediate setbacks. A close beneath here, not seen, would turn sentiment cautiously Negative and open up congestion around 105.50.
Long
by Continuum_Economics
2
USD/JPY: Extending gains13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement, where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish, however, highlighting a later break and continuation towards 107.50, and higher. Meanwhile, support is down to congestion around 106.00, and should underpin any immediate setbacks. A close beneath here, not seen, would turn sentiment cautiously Negative and open up congestion around 105.50.
Long
by Continuum_Economics
USD/JPY: Extending pullback13:20 GMT - The corrective pullback is extending, whilst daily stochastics and the Tension Indicator continue to track lower, with the break below 105.50 adding fresh weight to sentiment. Focus is turning to congestion around 105.00 and the 104.80 Fibonacci retracement, where already oversold intraday studies could prompt short-term consolidation. Meanwhile, immediate resistance is at 105.50. A close above here would help to stabilise price action, but a close above 106.00/10, not yet seen, will turn sentiment outright Positive and confirm continuation of January gains.
Short
by Continuum_Economics
USD/JPY: Extending pullback13:20 GMT - The corrective pullback is extending, whilst daily stochastics and the Tension Indicator continue to track lower, with the break below 105.50 adding fresh weight to sentiment. Focus is turning to congestion around 105.00 and the 104.80 Fibonacci retracement, where already oversold intraday studies could prompt short-term consolidation. Meanwhile, immediate resistance is at 105.50. A close above here would help to stabilise price action, but a close above 106.00/10, not yet seen, will turn sentiment outright Positive and confirm continuation of January gains.
Short
by Continuum_Economics
USD Index DXY: Consolidating - weekly charts positive16:10 GMT - The pullback from 91.00 has all but reached 90.50. Prices are currently balanced above here, but negative intraday studies suggest risk of further slippage towards the 90.10 Fibonacci retracement, where improving daily stochastics and the flattening Tension Indicator could prompt fresh consolidation. Following corrective trade, rising weekly charts point to fresh gains, but a close above 91.00 is needed to prompt a cautious upgrade and open up the 91.32 retracement. Critical resistance, however, remains at the 91.60 weekly high of 5 February. A close above here is needed to confirm continuation of January gains and open up 91.98/00.
TVC:DXY
by Continuum_Economics
2
USD Index DXY: Consolidating - weekly charts positive16:10 GMT - The pullback from 91.00 has all but reached 90.50. Prices are currently balanced above here, but negative intraday studies suggest risk of further slippage towards the 90.10 Fibonacci retracement, where improving daily stochastics and the flattening Tension Indicator could prompt fresh consolidation. Following corrective trade, rising weekly charts point to fresh gains, but a close above 91.00 is needed to prompt a cautious upgrade and open up the 91.32 retracement. Critical resistance, however, remains at the 91.60 weekly high of 5 February. A close above here is needed to confirm continuation of January gains and open up 91.98/00.
TVC:DXY
by Continuum_Economics
5
USD/JPY: Reached 106.00/10 - scope for still higher12:45 GMT - The break above the 105.77 weekly high of 5 February has reached the 106.00/10 area, where unwinding overbought intraday studies are prompting short-term consolidation. Daily stochastics and the Tension Indicator continue to track higher, however, and background weekly charts are positive, highlighting further gains in the coming sessions. A later close above 106.00/10 will extend January gains towards 106.50, ahead of the 107.15 Fibonacci retracement. Meanwhile, any break below 105.77 should stabilise above 105.50.
Long
by Continuum_Economics
USD/JPY: Reached 106.00/10 - scope for still higher12:45 GMT - The break above the 105.77 weekly high of 5 February has reached the 106.00/10 area, where unwinding overbought intraday studies are prompting short-term consolidation. Daily stochastics and the Tension Indicator continue to track higher, however, and background weekly charts are positive, highlighting further gains in the coming sessions. A later close above 106.00/10 will extend January gains towards 106.50, ahead of the 107.15 Fibonacci retracement. Meanwhile, any break below 105.77 should stabilise above 105.50.
Long
by Continuum_Economics
EUR/USD: Scope remains for a break to 1.2200Little change, whilst prices extend consolidation aroubd 1.2150. The daily Tension Indicator continues to track higher, highlighting a break, but overbought daily stochastics and negative weekly charts are expected to limit any tests/break of 1.2200 in fresh selling interest. Meanwhile, support remains at 1.2100 and extends to the 1.2082 low of 12 February. A later close beneath here will add weight to sentiment and open up 1.2050. Any deeper reactions, however, should stabilise above 1.1975-1.2000.
by Continuum_Economics
4
GBP/USD: Breaking higherConsolidation is giving way to a fresh break higher to 1.3900, as intraday studies track steadily higher. Both daily and weekly Tension Indicators remain positive, highlighting scope for further gains in the coming sessions, with a close above 1.3900 extending March 2020 gains towards historic congestion around 1.4000 and the 1.4030 weekly high of late April 2018. However, overbought daily stochastics are expected to prompt profit-taking around here. Meanwhile, support is at the 1.3866 weekly high of 10 February. A close beneath here, if seen, will turn sentiment Neutral and open up deeper losses towards 1.3800.
Long
by Continuum_Economics
GBP/USD: Breaking higherConsolidation is giving way to a fresh break higher to 1.3900, as intraday studies track steadily higher. Both daily and weekly Tension Indicators remain positive, highlighting scope for further gains in the coming sessions, with a close above 1.3900 extending March 2020 gains towards historic congestion around 1.4000 and the 1.4030 weekly high of late April 2018. However, overbought daily stochastics are expected to prompt profit-taking around here. Meanwhile, support is at the 1.3866 weekly high of 10 February. A close beneath here, if seen, will turn sentiment Neutral and open up deeper losses towards 1.3800.
Long
by Continuum_Economics
USD Index DXY: Turning away from 90.00/1014:50 GMT - The pullback towards 90.00/10 has found fresh support at 90.25, whilst intraday studies track higher and oversold daily stochastics flatten. The break above 90.50 has opened up the 91.00 break level, but the falling Tension Indicator is expected to limit any immediate tests in fresh consolidation. Weekly charts continue to improve, however, suggesting a later break and a run towards critical resistance at the 91.60 weekly high of 5 February. Meanwhile, support remains at 90.00/10 and should continue to underpin any immediate setbacks.
TVC:DXY
by Continuum_Economics
USD Index DXY: Turning away from 90.00/1014:50 GMT - The pullback towards 90.00/10 has found fresh support at 90.25, whilst intraday studies track higher and oversold daily stochastics flatten. The break above 90.50 has opened up the 91.00 break level, but the falling Tension Indicator is expected to limit any immediate tests in fresh consolidation. Weekly charts continue to improve, however, suggesting a later break and a run towards critical resistance at the 91.60 weekly high of 5 February. Meanwhile, support remains at 90.00/10 and should continue to underpin any immediate setbacks.
TVC:DXY
by Continuum_Economics
5
EUR/USD: Consolidation before higherThe corrective bounce from the 1.1952 weekly low of 5 February is settling into consolidation below 1.2150, whilst overbought intraday studies unwind. Daily stochastics and the Tension Indicator continue to track higher, however, highlighting a later break above 1.2150, but overbought momentum readings and negative weekly charts are expected to prompt fresh selling interest towards 1.2200. Meanwhile, support remains at 1.2100. A close beneath here, if seen, will turn sentiment cautiously Negative and put focus back on congestion around 1.2000.
by Continuum_Economics
2
EUR/USD: Consolidation before higherThe corrective bounce from the 1.1952 weekly low of 5 February is settling into consolidation below 1.2150, whilst overbought intraday studies unwind. Daily stochastics and the Tension Indicator continue to track higher, however, highlighting a later break above 1.2150, but overbought momentum readings and negative weekly charts are expected to prompt fresh selling interest towards 1.2200. Meanwhile, support remains at 1.2100. A close beneath here, if seen, will turn sentiment cautiously Negative and put focus back on congestion around 1.2000.
by Continuum_Economics
GBP/USD: March 2020 rally gaining traction11:45 GMT - Short-term consolidation around the 1.3775 Fibonacci retracement has given way to fresh gains, whilst intraday and daily studies continue to improve, with prices now trading above 1.3800. Focus is turning to 1.3900, but rising weekly and monthly charts highlight still further gains, and extension of the broad March 2020 rally towards historic congestion around 1.4000 and the 1.4030 weekly high of late April 2018. Both daily and weekly stochastics are already overbought, suggesting initial tests of here could give way to profit-taking pressure. Meanwhile, support is raised to the 1.3759 monthly high of 27 January. A close beneath here, if seen, would turn sentiment cautiously Neutral and delay gains, as focus then turns to congestion around 1.3700.
Long
by Continuum_Economics
GBP/USD: March 2020 rally gaining traction11:45 GMT - Short-term consolidation around the 1.3775 Fibonacci retracement has given way to fresh gains, whilst intraday and daily studies continue to improve, with prices now trading above 1.3800. Focus is turning to 1.3900, but rising weekly and monthly charts highlight still further gains, and extension of the broad March 2020 rally towards historic congestion around 1.4000 and the 1.4030 weekly high of late April 2018. Both daily and weekly stochastics are already overbought, suggesting initial tests of here could give way to profit-taking pressure. Meanwhile, support is raised to the 1.3759 monthly high of 27 January. A close beneath here, if seen, would turn sentiment cautiously Neutral and delay gains, as focus then turns to congestion around 1.3700.
Long
by Continuum_Economics
USD/JPY: Corrective pullback13:25 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling interest and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
Short
by Continuum_Economics
USD/JPY: Corrective pullback08:40 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling intraday and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
Short
by Continuum_Economics
USD/JPY: Strong resistance at the 106.00 Fibonacci retracement13:45 GMT - The anticipated test above the 105.50/68 barrier has reached 105.77, where unwinding intraday studies are prompting short-term reactions. There is potential for a run towards the 106.00 Fibonacci retracement, but overbought daily stochastics are expected to limit any immediate tests in profit-taking. A short-term pullback is possible, but rising weekly charts should limit losses to the 105.17 high of 2 February and congestion around 105.00. A close beneath this area, if seen, would delay further gains and turn sentiment outright Negative. Subsequent focus would then turn to 104.50/58.
by Continuum_Economics
GBP/USD: Selling pressure increasing08:05 GMT - Short-term gains have failed shy of 1.3700, as intraday studies track lower once again and prompt fresh selling interest. Congestion around 1.3600 is under pressure, but negative daily stochastics and the bearish Tension Indicator highlight increased selling interest and a later break towards 1.3500. Critical support, however, is at the 1.3450 monthly low of 11 January. A close beneath here will confirm a significant top in place at 1.3759 and a deeper correction of the September rally. Meanwhile, resistance remains at 1.3700 and should continue to cap any immediate corrective bounce.
Short
by Continuum_Economics