GER40(Dax) maintains bullish stance
The GER40(Dax) recouped losses as investors saw a bargain hunting opportunity. On the chart, sentiment remains upbeat despite the recent consolidation, with traders eyeing a break above 22200, which could resume the uptrend. A break below the psychological level of 22000 could see a shift in momentum, with a downturn likely. 22100 is a fresh support which, if held, will continue to gauge buyers’ interest.
USDJPY spikes higher
The Yen moved in favour of the greenback after a problematic reading for CPI traders. On the chart, prices have moved past the previous resistance of 153.00 as bulls strive to keep a positive outlook in the near term. Prices have recently stabilised above 153.50, but buyers will still need to clear the faded peak at 154.00 before they can take complete control. Otherwise, a drop below 152.85 could make the dollar walk on thin ice below 151.50.
EURGBP looking for direction
Sterling grinds away at the Euro as price action remains pressured. A firm double-bottom support at 0.8320 has put the bears on the defensive. Sentiment has grown cautious, and the sideways action could end soon in a breakout. A hold above this critical floor would challenge 0.8335, and a breakout could help the pair recover to 0.8350. Failing that, a bearish turn would trigger a new round of sell-off and send the pair below the recent support.
