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USD on the front foot

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    We started the day with the USD on the front foot against all its major counterparts, but with the exception of JPY. The negative risk tone is keeping JPY on the front foot, and despite the BoJ/MoF ‘risk’ seen at the recent lows, heavy stocks and commodity prices pressed USD/JPY towards the mid Feb base at 110.99. Elsewhere, Cable selling was quick to resume, though we did see an early reprieve above 1.4000 before extending lower again - to push below 1.3900. EUR/GBP finally broke above .7900,

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