Kickstart the FX trading day for July 15 w/a technical look at the EURUSD USDJPY & GBPUSD

July 15, 2024 at 02:14PM
The dust is settling after the assassination attempt of former Pres. Trump. The yield curve has steepened as the expectations are for higher tariffs (trade war/isolationism), deportation of immigrants and less immigration (potentially inflationary) and perhaps getting a new Fed chair who would look to lower rates.

Technically, both the EURUSD and the GBPUSD extended to topside resistance targets and found willing sellers.

For the USDJPY, it stayed mostly between retracement levels of the last move higher from the June low to the July high. The 50% retracement has been stalling the rally for most the day at 158.23. The 61.8% retracement remains support below at 157.36. That level was tested both on Thursday and Friday and found willing buyers.

The video above outlines the key levels and explains the technical bias, risks and targets.

This article was written by Greg Michalowski at www.forexlive.com.