The USD is getting a boost higher against all the major currencies. The USD is the strongest of the majors. The USDJPY is trading to a new 6 year high and is the biggest mover with a 0.33% gain so far today.
- USDJPY. The USDJPY is trading to a new 6 year high (going back to end of January 2016). The price has been up 11 of the last 12 trading days. The price has moved up from a low on March 4 at 114.64 to the high today at 119.89. Looking at the daily chart, the pair moved above a topside trend line, and has added more off that break.
Looking at the hourly chart, the price moved above a trend line at 119.609 and ran higher. That is now close support. Stay above is more bullish. The pair has now moved above the 120.00 level for the first time since February 3, 2016.
- EURUSD : The EURUSD fell below the 200 hour MA and trend line on the hourly chart and has run toward the next support at 1.0984. MOve below it, and the next target comes in at 1.09487. The risk now is a move back above the 200 hour MA. Stay below it, and the sellers are more in control.
- GBPUSD: The GBPUSD has moved down to test – and now break below – the 100 hour MA at 1.31379 and a swing area between 1.3138 to 1.31438. The sellers are making a play. Can they keep the pressure on the pair. The 200 hour MA comes in at 1.31075 and would be the next downside target.
This article was originally published by Forexlive.com. Read the original article here.