The USDJPY coming down a yesterday towards support area at 98.46, but the pair staying above this level lacking the momentum to break below. This morning at early European session the pair is approaching the support levels again. A break below would target 97.85 next, Last Thursday’s lows. A break below those levels would shift short term bias to the downside focusing on 97.43 next. Nearest resistance is at yesterday’s highs at 99.15.
EURUSD is trading at the resistance trend drawn from June 19th Top to AUG 20th high. The Pair posted a decline yesterday for a 2nd day in a row. Nearest support levels are the AUG 20th high at 1.3450. Bias for the EURUSD remains to the upside as long as we are above Last Wednesday’s lows. If the pair manages to find support at current levels, we might see a run towards last week highs. A break below current levels targets 1.3411 next.
Gold is been consolidating the past few days after a volatile week last week. The Gold declined last Friday retracing most of the gains made Last Wednesday post the FOMC statement. Short term bias for the Gold remains to the downside, as long as we are below levels of 1352.44. We could a see a consolidation in the pair until a break of either 1304 below or 1352 to the upside, yesterday the pair closed eventually unchanged after posting a low at 1305, if this levels hold as support, we might see a run higher to test 1352 levels.