The buck is not worth the paper it's been printed on right now
The levels in EURUSD have been taken out. We held up for a bit around the 50 fib and 55 dma at 1.1170, and have now gone through that and the S&R point at 1.1187.
EURUSD daily chart
1.12 has held at the first time of asking and the latest leg up has coincided with the London fix, so it might be that we've just seen the last of the month end flows. We'll have to see. It's a terrible time of the day/week/month to try decipher some of these moves, even more so with the events and data over the last 3 days.
The next resistance level to watch is above 1.12 at the 61.8 fib and 100 dma around 1.1230/36. If we break up there and 1.12 confirms as new support then there's a mighty fine chance that we've broken this range.
For the pound it's just your everyday 100 pip chop that's been par for the course recently.
GBPUSD daily chart
If cable breaks 1.33 then a stronger area around 1.3340/50 awaits.
For USDJPY, it looks like there's some sleepless nights coming up for Japanese MOF officials as we edge closer towards 102, and potentially worse.
