USDJPY testing resistance
The dollar continues to advance against most of its peers as prices look poised to complete a full reversal on the Yen pair. On the chart, prices have moved past the previous resistance at 154.00 as bulls strive to maintain a positive near-term outlook. Prices have recently stabilised above 154.00, but buyers will still need to confirm above this level before they can take full control. Otherwise, a drop back below 154.00 could make the dollar walk on thin ice towards 152.00.
EURGBP looking for direction
The euro grinds away at the dollar as price action remains elevated. A firm double top at 0.8750 has put bulls on the defensive. Sentiment has grown cautious, and the sideways action could end soon in a breakout. A hold above this critical level would challenge 0.8800, where a breakout could help the pair to extend gains. Failing that, a bearish turn would trigger a new round of sell-off and send the pair towards the recent support at 0.8650, with 0.8620 on the horizon.
GER 40 maintains bullish stance
The Dax looks to recoup losses as investors turn to European stocks for profitable opportunities. On the chart, sentiment remains upbeat despite the recent consolidation, with traders eyeing a break above 25200, which could resume the uptrend. A break below the 24700 level could signal a shift in momentum, with a likely downturn towards 24300. 25300 is the target, which, if breached, will continue to gauge buyers’ interest and push it to another record high.
