8DC FX

Technical Analysis for EURUSD, GBPUSD & USDJPY

August 16 2022

EURUSD

The EURUSD is looking vulnerable this morning to further downside pressure. With support in the 1.0110/1.0100 area, being the next target for the bears. However, if 1.0100 support is broken expect further losses to 1.0060.

Initial resistance is going to be found at 1.0190/1.0200 and then 1.0230/40.

GBPUSD

GBPUSD testing the support at the bottom end of the recent range at 1.2020/1.2000 if broken you will see further downside pressure to test 1.1960.

Resistance is at 1.2100/20 and then 1.2150

USDJPY

USDJPY testing immediate resistance at 133.50 this morning. Which is broken would allow a move up to the pivotal 133.80/90. If the dollar can overcome this area then i think we will quickly see 134.40.

Support is found now at 132.90/80 which if broken would allow for a retest of 132.50.

Analysis from http://www.eightdragonscapital.com

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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