USDJPY bounces back
In this Yen Analysis, The Japanese yen retreated as consumer confidence remained flat. The greenback has met some buying interest at 145.00 after a brief retracement. 149.00, where the previous rally came under pressure, is a significant ceiling to lift. A breakout would force the remaining bears out and cause a runaway rally above the recent high of 146.10, paving the way for a bullish continuation in the weeks to come. On the flip side, a fall below 143.50 would expose the critical level at 141.80.
EURUSD see a reprieve
The euro slips as the dollar eyes a comeback after breaking through 1.1100. On the chart, the pair is looking to hold onto the recent high around 1.1170 as the dollar’s recovery seems to have gained traction. A close below the immediate support of 1.1050 will ease the buying pressure. The bulls might need to consolidate their gains before they could push back once and for all. 1.1140 is the closest resistance, and its breach would trigger a retest of 1.1200.
USOIL claws back losses
WTI crude recouped losses after the recent $2 push to the upside. A brief fall below 72.00 earlier this month has allowed some long positions to close in profit, shaking out weaker hands in the process. After the psychological level of 74.00 proved to be solid support with the RSI’s double dip in the oversold zone, a fresh high of 76.15 is a sign that the bulls are still in control of the direction. A breakout could trigger a broader rally to this month’s high of 80.00.
