Currencies now finding their support and resistance levels
Sometimes it's difficult to trust the charts over events like this. The tech can become obsolete as headlines go flying around. When things calm down, new levels develop and old ones reassert themselves.
USDJPY is finding 111.80/85 a resistance point after finding support at a more recent support level.
USDJPY 15m chart
We were up and down over 112.00 during Asia and that nut will need cracking once again if we get through here. Support stepped up from the low to 111.50 so breaking that or 111.80/85 will determine direction.
It's a similar pattern in GBPUSD and EURUSD.
Cable has 1.4300/15 marking resistance and 1.4360, then 1.4350 marking support
EURUSD has 1.1230 in the way of further gains before thinking about the overnight highs at 1.1260. Support at 1.1190should have moved up to 1.1200 but now.
There's still nothing that suggests we're going to lean heavily in any direction so trading tightly between these levels looks to be the way to go for now.
