8DC FX

Technical Analysis For GBPUSD, EURUSD, and USDJPY

August 22 2022

GBPUSD

GBPUSD remains under pressure while below 1.1920.

Initial resistance is at 1.1860 and then the aforementioned 1.1920. The market looks like it wants to visit the July lows at 1.1760/50, breaking support at 1.1800 on the way.

EURUSD

The EURUSD remains under pressure, although there is likely to be some profit takers ahead of parity. However, a break of 1.0000 would see further losses to July’s low of 0.9960.

Sellers will be first found at 1.0070/80 and then stronger resistance at 1.0100/1.0120.

USDJPY

USDJPY remains bullish while above 135.40.

Daily resistance was tested this morning at 137.40/50, this level needs to be broken to allow further gains to 138.00/20.

Failure to break 137.50 would see the USD pull back to 136.80 possibly 136.40.

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: