AUD/USD, GBP/USD confirm medium-term uptrends while USD/JPY slips
AUD/USD, GBP/USD confirm medium-term uptrends as key resistance is breached while USD/JPY slips.
AUD/USD breaks through key resistance
AUD/USD break through and daily chart close above the $0.6644 to $0.6667 key resistance zone confirms a medium-term bullish reversal with the $0.685 being back in play.
Because of inverse polarity the $0.6667 to $0.6644 previous resistance area has become a support zone.
GBP/USD surges ahead
GBP/USD break through the March-to-May tentative downtrend line and daily chart close above the $1.2635 early May high confirms the medium-term bullish reversal we have alluded to over the past few weeks. The $1.29 region is thus back in sight.
Potential slips on Thursday should find support around the early May high at $1.2635.
USD/JPY comes off
USD/JPY topped out at this week's ¥156.78 high with the 55-day simple moving average (SMA) at ¥152.52 and the ¥151.87 to ¥151.72 support zone being back in sight.
Minor resistance sits at Wednesday's ¥154.70 low.
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