August 30, 2023: Kickstart your FX trading day. A technical look at EURUSD, USDJPY, GBPUSD

EURUSD: The EURUSD is up testing at 100-day moving average. The last 3 tests of that moving average have found willing seller’s. That moving average comes at 1.09258. It will be a key barometer for the pair in the short-term. Move above is more bullish.

USDJPY: The USDJPY has tumbled back below its 100-hour moving average at 146.242, and did below its 200-hour moving average at 145.887. The price is trading above and below its 200-hour moving average and trying to stay below the 50% midpoint of the move up from the August 23 low which cuts across at 145.95. Which way will the pair break? Stay below the 200-hour moving average/50% retracement keeps the sellers more in control. Move above each, and the price could waffle between the 100-hour moving average above at 146.24 and the 200-hour moving average at 145.887.

GBPUSD: The GBPUSD has moved back above its 100 day moving average at 1.2645, and it 100 bar moving average on the 4 hour chart at 1.26936. Those moving averages will be barometers for the bulls and bears going forward. Stay above and the biases a little more to the upside. If the price were to dip below, there could be a disappointment on the failure(s).

This article was written by Greg Michalowski at Source