USD mostly lower but modestly

EURUSD:

Yesterday, the EURUSD fell below the 100 and 200 hour moving averages in the NY session and stayed below. Today, that dynamic switched later in the Asia-Pacific session and the price has been able tto stay above the MAs in the London session. The 200 hour moving averages currently trading at 1.06032. The 100 hour moving averages at 1.0613. The low in the London session reached 1.0602. The post recent lows have stayed above the 100 hour MA (blue line). Mike points out that there is a huge option next three at 10 AM in the EURUSD at 1.0600. That is huge. Option buyers want to see the price move away from the expiration price. Option sellers want to see it close right at the level (expire worthless) The sellers may be more in control. That may be why the price is hangin around the level

GBPUSD.

The GBPUSD was more up and down yesterday and a non-participator in the dollars rise. Today, it has been the focus rising sharply in the London trading session. It is moving up toward the November high (highest traded level since the October crash in the GBP). That level comes in at 1.2673. A move above should solicit more buying. Key levels above is the 50% of the move down from the Sept high to the "after the Oct crash low" comes in at the 1.27656 (ignore the crash). The 100 day MA comes in at 1.2807. Those are upside targets for the pair.

Looking at the 5-minute chart, the price action is consolidating at the highs. The 38.2% of the trend move higher today comes in at 1.26017. The 50% is at 1.25834. The low corrective price only got town to the 1.2614 area. So although the pair is taking a breather, it is not racing away. The lower channel , will need to be broken to scare the longs who remain in control. The topside trendline currently comes in at the 1.2673 area which corresponds with the high from November.

USDJPY

The USDJPY is finding resistance against the March 2016 highs at 114.44-54 again. This area stalled the rise yesterday. IN the Asia-Pacific session,, the price moved above that area, but stalled just ahead of the mid February 2016 high at 114.86 (the high reached 114.82). Sellers are leaning against the level, with stops likely on a break (of the 114.54 level).

Looking at the hourly chart, the price is at a point where it either pushes higher or corrects back down toward a lower support at 114.00 to 113.70 area (see think red line).