You can’t say we haven’t watched the buck build itself up over the last few days and GDP has given bulls the perfect boost into the FOMC announcement tonight.

USDJPY has pulled up at 102.51, which in effect is only 25 odd pips from where it was on the release. 102.70 is the next big level to watch ahead of 103.00.

USD/JPY Daily chart 30 07 2014

USD/JPY Daily chart 30 07 2014

So far the death cross of the 55 and 200 dma has amounted to nothing so far and the dead cat cross of the 100 & 200 dma is about to take place. At the moment they’ve met at the 102 level and will act as support.

EUR/USD has been sent packing below 1.3400 and is pivoting around the 55 mma at 1.3383. Could be a very important close for the euro this month.

GBP/USD nudged down through support at 1.6930 but has been hoovered up ahead of 1.6900