USDJPY: The USDJPY posting a bearish outside day on Thursday, which can indicate a bearish bias for the short term. The pair is currently trading at 97.60. Nearest resistance is at 97.75, a break above exposes 98.26 next, followed by 98.63, Last week’s high. Alternatively support is at 96.97, with a break below exposing 95.95 next. Weekly bias is to the downside as long as we below the last Thursday high at 98.63.
EURUSD: The EURUSD posting a long bullish candle on Thursday, indicating that bias remains to the upside. EURUSD levels for the week ahead: Nearest support is at 1.3300, with a break below exposing 1.3230 next, followed by 1.3187. Alternatively resistance is at 1.3343, with a break above exposing 1.3390 next, followed by 1.3415, the June high.
GBPUSD: The cable posting a long bullish candle on Thursday as well, indicating that bias remains to the upside as long as we are above 1.5530. GBPUSD levels for the week ahead are at: nearest support is at 1.5573, with a break below exposing 1.5530 next, followed 1.5436. Alternatively resistance is at 1.5678, with a break above exposing 1.5750, the June high, which are the 100 Fibonacci extension levels as well.
SP500: The SP500 closing lower for 3 days in a row, posting the weakest week for the index for the last 8 weeks. Nearest support is at 1654.0, with a break below exposing 1646 next. Alternatively resistance is at 1675.0, with a break above exposing 1684 next. Preferred strategy is to sell strength for a next leg down, as long as we are below the Thursday high at 1684.7.