NASDAQ Index is the gift that keeps on giving
The Nasdaq 100 moved to another record high as bulls continued to outshine bears. A just above the 20-day SMA has put the Nasdaq index on another rally. A break above 18000 has attracted more buying interest, with the RSI pushing higher. 18410 is the first level to expect sellers to step in, and sentiment could turn around if the support-turned-resistance of 17800 is cleared. With more upside expected, other global indices could follow as the expected correction is nowhere in sight.
USDJPY stuck sideways
The Japanese yen consolidated as retail sales and unemployment remained firm. A sideways rally shows that the US dollar’s recovery took a pause. A brief pullback has met vital buying interests, which turned out to be a false spike towards 149.00. A subsequent break above 150.00 suggests that bulls are still lingering, and a close above 150.90 would seal the deal. December’s high of 151.80 would be the next resistance. 150.20 is the closest support should price action stumble.
EURGBP keeps spiking
The pound bounced back after falling towards yearly lows. On the chart, volatile spikes have seen a flurry of activity, pushing prices over 60 pips. A strong bullish candle that follows shows that the bulls are back in business. As the RSI returns to the neutral area, an upside follow-through could be expected above 0.8570 in anticipation of renewed momentum towards 0.8610.
