8DC FX

Technical Analysis EURUSD, GBPUSD & USDJPY

June 23 2022

Yesterdays failure to sustain the break of support at 1.0490, saw a sharp reversal back up to the top of this weeks range at 1.0600.

However, resistance remains at 1.0600/10 keeping the range intact.

The EURUSD needs to hold support first at 1.0560 and then 1.0540 to maintain upside momentum to retest the high at 1.0600 and move up to 1.0640.

Failure to hold support at 1.0540 would see further downside pressure back to test 1.0490 and possibly 1.0440

Yesterdays failure of the GBPUSD to break and hold above 1.2300, has seen the Pound pull back close to support at 1.2240. A break down below 1.2240 would open a retest of 1.2200 and possibly 1.2170.

Resistance is found at 1.2280/90 a break of which opens up another attempt to attract 1.2320, and possibly 1.2350 in extension.

USDJPY is consolidating after making multi year highs at 136.80.

Support is found at 135.60/50. However, a break would open up a test of 135.20 and possibly 134.90 in an extended correction down.

Resistance is at 136.40 and a break up from however would signal a retest of the recent highs, and a possibly a run up to 137.00/20.

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Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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