There are a couple to take note of on the day, as highlighted in bold.
The first one is for EUR/USD at the 1.1300 level. That could help to keep price action more locked in near the figure level in the session ahead, limiting downside pushes. There is also the 200-hour moving average nearby at 1.1297 currently. That said, dollar sentiment remains the bigger driver at this point, so be wary of the flows there.
Then, there are ones for USD/JPY at the 144.00 and 145.00 levels. The two should act as goalposts in keeping price action contained within the region before rolling off later in the day. However, just be wary of headline risks and also influence from the bond market. Japanese bonds are raising some eyebrows this week on a weak 40-year auction today following concerns over the recent volatility in long-term yields.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at www.forexlive.com. Read More Details
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