USDJPY tests lows from yesterday.
The Chicago PMI came in a bit weaker than expectations (55.2 vs 57.0 est, and 58.3 last), and that has the dollar trading lower. Technically, the momentum was heading that way. The report gave it the nudge to the next target levels.
The EURUSD pushed higher and took out the high from Friday at 1.12339. The high from last Thursday at 1.12497 is also a target for the pair. The range has made it to the 22 day average at 78 pips (vs the average of 77 pips).
The USDJPY has moved below the low from yesterday at 110.65 and looks toward the lows from May 18th at 110.51 and 110.23 as the next targets. A lower trend line comes in at 110.55.
The GBPUSD spiked up to the 200 bar MA on the 4-hour chart AND the 38.2% retracement at 1.28759 level (the high reached 1.2879) but has found the sledding a bit tough against the level on the first test.
