USDJPY consolidates gains
The Japanese yen struggled as the GDP reading showed a deceleration in the second quarter. A previous retracement has found support over the 20-day SMA (144.60). Then a close above the recent high of 147.30 indicates a renewed buying pressure and may attract the bulls in the hope of a bullish continuation in the medium-term. Last October’s peak and the psychological level of 150.00 is a major ceiling ahead with 148.00 as the first hurdle. The former supply area of 146.00 is the first support in case of a pullback.
NZDUSD heads lower
The US dollar advances as few US jobless claims show a still-resilient economy. After hitting resistance at the psychological level of 0.6000 near the 30-day SMA, the kiwi headed lower below 0.5890, invalidating last week’s rebound. 0.5850 seems to be a temporary support after the RSI sank into oversold territory. Intraday sellers’ profit-taking may drive the quote up but strong selling interests could be laying around 0.5940 as sentiment remains downbeat. Buyers may only turn the tide if they succeed in lifting 0.6000.
UK 100 recoups losses
The commodity-heavy FTSE 100 stalled as economic issues in China kept investors at bay. Following a tentative close above the key resistance level of 7520, the index seems to have secured bids around 7370 with a divergent RSI suggesting a slowdown in the downward momentum. A close above 7475 may lift offers to the support-turned-resistance of 7550 from a previously faded bounce, where a bullish breakout could open the door to a sustained rally to July’s high of 7720. Otherwise, the price could revisit 7250.
