USDJPY(Yen) pushes lower
The USDJPY(Yen) gained some momentum against the dollar as the pair hit a heavy rejection.
- Prices were hitting double tops, but a bearish divergence suggested a deceleration in the upward momentum.
- 163.60 is now a firm support, and its breach would force leveraged long positions to close and trigger a correction towards 162.80.
- 164.00 is a key level to expect bulls to test to keep the upward bias intact.
XAUUSD finding more buyers
Bullion hit a firm rally as the Federal Reserve held firm with its interest rate.
- The price seems to have secured a foothold around the 4070 level, with 4100 on the horizon.
- A series of higher highs combined with a tentative break above 4050 suggests mounting buying pressure.
- On the downside, 4040 is the immediate target to maintain some momentum.
USOIL tests key resistance
WTI capitalises on ongoing Middle East tensions as the U.S. looks towards further retaliation.
- A bounce off the critical top towards 86.00 shows that sellers have not thrown in the towel yet.
- The narrowing consolidation is due for a breakout, which will dictate the next move.
- The previous swing high of 88.50 is a major hurdle to lift before bulls can hope for a further rally.
- Conversely, 82.00 is the first support and the bulls’ last stronghold to prevent a bearish retreat.
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