Kisckstart your FX trading for January 19 w/a technical look at EURUSD, USDJPY and GBPUSD

In the kickstart video for your trading day, I take a look from a technical perspective of the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD.

The EURUSD on Wednesday and again on Thursday tested its 200 day moving near 1.0854 and found willing buyers..That has led to a modest rebound into close yesterday and in what has been up-and-down trading today. The highs for the day, has been banging against the Following 100 hour moving average currently comes in at 1.0890. It would take a move above that moving average to increase the bullish bias for the pair (along with the high of a swing area at 1.0894).

The USDJPY extended to yet another new high today and that took the price above a swing area between 148.45 and 148.59. The high price reached 148.80 before reversing back to the downside. Going forward there is decent support against the 100-day moving average and 61.8% retracement of the move down from the November high. That area comes near 147.45.

The GBPUSD sellers had their shot on Wednesday this week with the price moving below a swing area between 1.2602 and 1.26137. That shot missed quickly and the price rotated back to the upside. The day the price moved higher and retested it 200 hour-moving average near 1.2710, but sellers leaned, and later weaker retail sales sent the price back to the downside. The price is now trading above and below its 100 hour moving near the middle of what has been a trading range over the last month between 1.2600 and 1.2800.

This article was written by Greg Michalowski at Source