The FOREX markets are quiet in the Asia-Pacific session. Japan is on holiday contributing to the lackluster price action. Yesterday’s US CPI data whipped traders around as well as the initial reaction was to the downside in the greenback, and then reversed back to the upside with the rise in US rates
However in the Asian session, the rise in the dollar has slowed and we are seeing a little bit of weakening.
In this video I take a look at 3 of the major currency pairs – the EURUSD, USDJPY and GBPUSD – and outline the technical levels in play now and going forward. For the EURUSD and the GBPUSD, the levels are similar to yesterday’s. For the USDJPY, it has a stretch to the end of June early July highs, and is finding some resistance against those levels.