EUR/USD Remains Bearish; USD/JPY Moves Sideways
Olimpiu Tuns | Jul 29, 2014 09:14AM ET
Tomorrow is important to watch economic data from Spain, these indicators can have some impact on this pair. You also have to take a look at U.S. economic indicators, tomorrow will be released the ADP Non-Farm Employment Change, Advance GDP and later will have the FOMC statement.
USD/JPY: dollar continue to grow/h3
You can see on H4 chart that the price has managed to break the descending channel and now is going upward. We have resistance at 102,11 and at 102,26, the support is at 101,75. On Daily chart the USD/JPY is moving sideways after he got out of the ascending channel, is trading between 101,05 and 102,78. There is also a descending trendline on Daily chart that is acting as resistance. We don’t have a clear direction until this range is completed. USD looks very strong, this bullish movement can continue.
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