(FTSE)UK100 pushing for another peak
The (FTSE)UK100 ignored the recent sell-off as price action made another move higher. A push above the previous swing high of 9000 has put the bulls on the attack, regaining most of the losses from last week. The latest uptick could come under pressure at 9030, should bulls encounter firm resistance here. On the flip side, 8950 and the base of the latest bounce are the bears’ targets to move back below the recent low at 8800.
USDJPY multi-month high
The Japanese yen remains pressured after the pair broke to another fresh high. The bullish bias remains intact, even though the pair has encountered some resistance, resulting in a pullback. The bullish mood means that pullbacks have been opportunities for the buy side to stake in. The greenback is testing the round number of 149.00, and another breakout would solidify the dollar’s supremacy and pave the way for a rally towards 150.00. On the downside, 147.50 on the trendline is the first level of support.
GBPUSD finds support
The cable was given a boost after the recent downward spiral saw a lift in price action, following the discovery of some support. A fall below 1.3500 was a sign of profit-taking after bulls struggled to push back, putting a dent in the short-term mood. However, Sterling still has an edge from the intraday chart perspective. A recent bounce at the low of 1.3380 has seen buyers re-enter the market with a slight uptick in bids. The brief support-turned-resistance of 1.3570 is the level to lift before cable can create an uptrend.
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