USDJPY falls to 38.2% target. EURUSD rises toward cluster of resistance....stalls

The EURUSD is rallying toward the key cluster of resistance defined by the 100 day MA, 38.2% and 200 hour MA at the 1.1800-02 area. The high has reached 1.1795 so far. Key resistance.

The USDJPY fell away from the 200 hour MA at 112.95 (now risk for shorts). The low stalled at the 38.2% retracement at 112.63. A move below that level and the trend line are the lower targets now. A move back above the 200 hour MA would put into question the markets bearish move lower.

In other markets:

  • Spot gold is higher on the lower dollar. It is up about $9.25 or 0.74% at $1253.77
  • 2 year yield is 1.806%, down 2 bp (not much change). The 10 year is at 2.367%, down 3.4 bp. It is down about 1 bp.
  • US stocks are higher but off highs. S&P is up 4 points at 2668. The high reached 2671.88. The Nasdaq is at 6882.90. It traded as high at 6897.62