FTSE 100 index (UK 100) remains choppy
The FTSE 100 index continues to grind sideways as the recent direction has left traders feeling uneasy. Following a tentative close above the critical resistance level of 8300, the index seems to have hit some resistance around 8340, with a divergent RSI suggesting a slowdown. A close above 8380 could lift prices higher. Otherwise, the price could revisit 8200 to continue the choppy trend.
USDJPY moving higher
The Yen continued to struggle against the greenback as price action looks for a full recovery. The ongoing retracement has found support at 143.00. A close above the recent high of 144.10 indicates renewed buying pressure and could lead to a bullish continuation. The early September peak and the psychological level of 147.00 is a significant ceiling ahead. The former supply area of 142.50 is the first support in case of a pullback.
NZDUSD bounces back
The US dollar advanced as US jobless claims beat expectations. After hitting resistance at 0.6360, the Kiwi headed lower and dropped off 100 pips. Since then, a bounce at 0.6260 seems to be a decent support after the RSI bounces away from oversold territory. Intraday sellers’ profit-taking could drive the quote up, but vital selling interests could be lying around 0.6200 if sentiment remains downbeat. Buyers might only turn the tide if they succeed in lifting 0.6350.
