8DC FX

Technical Analysis of USDJPY, EURUSD, & GBPUSD

August 1 2022

USDJPY

Long liquidation in early asian trade, broke support at 132.60 and made a low at 132.06.

The Dollar has since made a recovery. If this upside momentum continues you could see further gains to 132.80/133.00, and possibly 133.40 in extension.

However, if the Dollar fails to regain 132.80, renewed downside pressure will emerge and further tests of the low 132’s will follow, with a target of 131.60/40.

EURUSD

The EURUSD Bulls want to test 1.0260/80 again, which if broken would allow for further gains to 1.0320, and possibly the strong resistance at 1.0360.

However, another failure at 1.0280 would bring renewed downside pressure to test support at 1.0160 and possibly 1.0100/1.0080.

GBPUSD

Cable is looking to test 1.2200 resistance, which if broken would allow another run up to 1.2240/50 and possibly 1.2280/1.2300.

Failure to break 1.2200, will see the GBP test the downside support first at 1.2130/20 and possibly 1.2080/70 in extension.

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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