USDJPY moving lower
The Yen (USDJPY) bounced back against the dollar as the pair looks to close the weekend gap.
- Resistance at 158.30 indicates renewed selling pressure and could lead to a bearish continuation.
- The recent low at 157.40 is a major target lower if the dollar gives back most of its gains.
- A bounce above 158.30 could lead to 159.00 as the first resistance.
NZDUSD bounces back
The Kiwi advanced as the greenback remained pressured across the board.
- After hitting support at 0.5570, the pair headed higher to recapture around 100 pips.
- Intraday sellers’ profit-taking could drive prices even higher, especially if they succeed in lifting the 0.5700 zone.
- If sentiment turns downbeat, 0.5660 becomes the level to beat before a move lower towards the 0.5600 region.
UK 100 remains bullish
The FTSE continues to grind higher as the recent direction has left traders feeling uneasy.
- Following a tentative break above 10700, the index seems to have hit some resistance around 10860.
- A divergent RSI suggests a slowdown in momentum, with 10650 a major floor to hold.
- A close above 10860 could lift offers higher at the psychological level of 11000.
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