The Dollar (USDJPY) hitting double top
The dollar is seeing some light at the end of the tunnel as sentiment shifts again. A break at the recent double top at 145.10 would see a continuous bullish drive from the 200-pip push that has kept buyers in the driving seat. June’s swing high at 148.00 is the next target, but prices need a lift past 146.50 first. 144.20 is a fresh support level, and 143.50 is a major level that helps maintain the bullish bias.
EURGBP continues to run away
The euro advanced further as the bullish rhetoric continues to play out. However, the rally seems to have come to a halt with the recent spike at 0.8660, suggesting that bears could still sell into strength if sentiment shifts. Only a break above this resistance would open the door to a meaningful continuation of the higher trend. 0.8600 has become a firm support level to see if prices remain elevated; otherwise, a move lower towards 0.8520 would be on the horizon.
GER 40 stuck in a triangle
The DAX edged lower as the recent symmetrical triangle continues to hold prices. This is a strong indication of the underlying bearish mood, but a brief pullback has seen a few points added to the board. However, the overall rhetoric suggests that the Dax is being heavily pressured. The psychological level of 24000 is the next obstacle to lift. For sellers, a drop below 23600 would send the index to 23250.
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