The EURUSD is trading to a new session high and in the process is moving closer to its 200 day moving average at 1.0397 area. A move above it (and the 1.0400 natural resistance target) would have traders looking toward the high prices from last week. The high price from last Wednesday came in at 1.04369. The high price from Tuesday reached 1.04806. That was the highest level going back to July 1.
Looking at the daily chart below, the 50% midpoint of the 2022 trading range comes in at 1.05155. On further momentum above the 200 day moving average, that midpoint level would be another key target for buyers to get to and through.
The GBPUSD has just broken through that midpoint level for the year at 1.20499 and trades up to 1.2072. Dollar selling is accelerating.
USDJPY is trading to a new low and looks to test the low price from last Friday at 139.615. The price fell below its 200 hour moving average at 140.255 earlier today. That is now close risk for sellers. On the downside the 138.87 – 139.092 represents a swing area to target.
