Kickstart FX trading for May 24 w/a technical look at the EURUSD, USDJPY and GBPUSD.

In the kickstart video for May 24, I take a look at the technicals for the EURUSD, USDJPY and GBPUSD.

The EURUSD is moving higher after a move below the 100-day moving average at 1.08134 failed. The subsequent move to the upside has now taken price back above its 100 and 200-hour moving averages between 1.08415 and 1.0847. Stay above those moving averages would keep the buyers more in control today.

The GBPUSD moved lower after weaker than expected retail sales, but found sport right against its rising at 200 hour moving average. The inability to move below that moving average turned sellers into buyers, and the price has since moved back above its 100-hour moving average of 1.27126. Staying above would be more bullish.

The USDJPY is doing more up-and-down trading today. The price loaded hold comfortably above the next downside target 156.75. Having said that there is upside resistance between 157.191 and 157.23. The high price today reach 157.14.

This article was written by Greg Michalowski at Source