Resistance 3: 108.20

Resistance 2: 107.80

Resistance 1: 107.40/50

Latest New York: 107.30

Support 1: 106.20/30

Support 2: 105.80

Support 3: 105.40/50


Rate grinds higher after the London fix, traders report thin conditions. Technical traders note a fib defense area around today’s highs and never forget that the fundamentals haven’t changed one bit in the last 72 hours; USD likely not this strong but more benefiting from Yen weakness. Still showing signs of a top, offers by exporters all the way to the overnight high traders say suggesting that the strength may be short-lived. Stops likely rolled up under the 106.20 area again for today so if a break happens—look for a drop to new monthly lows fairly quickly. Aggressive traders can sell anytime over the 107.00 area but I want to wait through the Tokyo open tonight.

Data due Wednesday: All times EASTERN (-5 GMT)


Analysis by: written by Jason Alan Jankovsky


Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.