Stocks rebound
The stock market has moved back to unchanged
The Brexit campaigning has stopped due to the death of MP Jo Cox
The rumors of suspension of the Brexit vote (not likely).
The GBPUSD completed a 200 pip lap back higher.
The EURUSD retraced 112 or so pips
Surely the USDJPY can take back some of its 247 pip decline? It has but at a slower pace. The correction has recovered 100 pips and up to the 38.2% of the move down from the late NY session high yesterday (see chart below).
Technically, the pair got some help from the holding near the 103.79 area outline in my earlier post (CLICK HERE). The low printed 103.75 before starting higher. The pair is back above the 200 bar MA on the 5 minute chart at 104.40. That will be eyed now as support.
The rebound in the other pairs has this pair expecting the same thing. So traders will like watch that 104.40 level for the technical clue. Stay above is good for the buyers looking for me. A move below will then eye the 104.20. That is the 100 bar MA and it has started to move back higher. The 104.83 is the next upside target.
