Cross pairs heading lower and capping core pairs again 22 Aug
What started as USD demand is now morphing into a JPY and CHF demand/risk-off play.
Equities remain in positive territory but oil on the retreat as is USDJPY at 109.24 after failing into 109.50 the start of the 50-60 resistance area I highlighted earlier a coupler of times.
GBPUSD has tested support/bids around 1.2825-30 as GBPJPY falls to 140.17 similarly EURUSD at 1.1750 with EURJPY down to 128.47. The same pattern can be seen on AUDJPY and NZDJPY sending the core pairs to 0.7900 and 0.7278 respectively.
EURCHF down to 1.1351 to test support there as USDCHF finds offers above 0.9660 and that euro supply is helping to cap EURGBP too but we can expect dip demand too here.
It's all interwoven don't forget.
USDJPY
USDCHF
GBPUSD
EURUSD
