USDJPY the exception
The USD is getting a boost after the better than expected Markit PMI data.
- EURUSD moves back below its 100 day MA and back into the channel on the 4-hour chart below 1.1120. The low for the week at 1.11056 is the next target. Risk is the 100 day MA at 1.11288 now.
- GBPUSD is moving to new lows for the day as well. The price found sellers near the 100 hour MA at 1.29195 and is down below the low from early Monday at 1.28727 (close risk now - trading at 1.2862 now). The 200 hour MA and lows for the week (and last Friday) at 1.2833-38 is key support target now).
- The USDCHF has moved up to test its 200 hour MA at 0.99116.
- The USDJPY is not running higher but reached new lows in a break from the USD higher storyline. The S&P gave up it's gains and trades negatve. Yields have also moved lower and may be leading to risk off reaction in the USDJPY. Technically, the price fell below its 100 and 200 hour moving averages at 108.534-559 area. That may also be contributing to a softer tone for the pair (see chart below). It will take a move back above those MAs now to have traders questioning the fall.
