USD/JPY The upside is capped by 61.8% Fibo

Although USD/JPY remains confined to Monday’s range, the Japanese Yen is showing strength after the preliminary July Nikkei Manufacturing PMI figures which came under market's expectations. Alongside with this results, the country's leading index was revised to a 6-month high of 106.9 in May giving a reflection to the current economic activity that has fallen to 116.8 in May from 117.5 in the previous month. US Treasury yields are keeping Monday’s tops but there is no perspective for further rally which leads to slowdown in the upward development for the pair. Technically speaking the short-term outlook remains neutral. On the four hour time frame the price is developing below its bearish 20-day SMA and flat 50-day and 100-day SMAs. RSI is located around 36 and has lost directional strength. Stochastic has turned to north but remains below its mid-line. Currently the pair is consolidating around 61.8% Fibonacci retracement of its latest bullish run and according to technical indicators the chances for steeper advance are limited. The upside is still capped by 111.45 where the 100-day SMA is developing while the downside remains supported by the 110.80 – 110.70 zone. 

AUD/USD Bears are aiming 0.7500 area

The AUD/USD pair tumbled to fresh 2018 lows, down with 0.45% today and currently trading at 0.7561. US bulls are back in game supported by the rising 10-years Treasury yields, which reached the impressive 3.02 %. While Australia is having holiday today, Aussie is conducted by  the US dollar dynamics.
Technically speaking the short term outlook remains bearish. On the four hour time frame the price is developing well below its moving averages. The 20-day SMA is keeping its bearish slope while the 100-day and 200-day SMAs are starting to turn south after staying flat the last two weeks. RSI and stochastic are located with extreme oversold areas however there is scope for further declines.
Last week the pair decisively broke the 61.8 % Fibonacci retracement of latest December to January bullish run at 0.7745. During the past two months the price was moving back and forth around it and switching from support to restisrance several times. The above mentioned indicators support additional declines and bears now are aiming the 0.7500 area and thus the same Fibonnacci retracement would be completed at 100%.
The macro agenda is not offering any significant releases and with Australian market closed the US bulls are setting the tone.

Gold unable to extend the post-Fed gains

Following the Fed’s rate hike decision gold prices surged and marked one week high at the level $1259.00, but today is seen few pips lower, hovering around a neutral space at $1255.00. The US Dollar’s selling pressure is relieved by the uptick in the US Treasury bond yields which further impedes the gold bulls.
On the four hour time frame XAU/USD crossed to above its 20-day SMA that is starting to turn north while the 100-day and 200-day SMAs are showing bearish slopes. RSI has reached 60 level but currently is changing the direction. Stochastic is displaying strong bullish momentum and is located within extreme overbought territory and some exhausture exhaustion begins to emerge.
Immediate support comes at $1250.00, below which bears are likely to test $1247.00. Looking to the upside first resistance is provided by the daily high at $1259.00 and in case bulls succeed to regain this level, next target is the 200-day SMA at $1267.00.
Later in the day monthly retail sales and initial jobless claims are due from the US and in case of affected greenback, fresh impetus would be given to the precious metal.

USD/JPY At the upper side of its range on higher US Treasury yields

The US President Donald Trump is feeling enthusiastic about Taylor and the expectations for the next Fed’s rate hike rose after Janet Yellen’s comments during the weekend.  Following these events yesterday  the US Treasury yields skyrocketed to highest level since November 2008.
Today the USD/JPY is backed up the extended advance on the US Treasury yields and is trading at the upper side of its range.
Thechnically speaking seems that the pair has not enough stregth to climb significanlly higher. On the four hour time frame the price has topped at the 100-day SMA, acting as a dynamic resistance at 112.46, which is also the daily high. The pair couldn’t cross to above the 100-day SMA , but meanwhile remains above the 20-day SMA, that is staying flat around 112.00 and is providing first support level. Stochastic has turned sharply to south, but yet remains within extreme overbought territory. RSI also retreated from the north area and eased around it mid-line.
Nevertheless I’m positive on further advance for the pair , but first bulls should conquer the October 6th’s high at 113.43.  

EUR/JPY Meets stong support at the 100-day SMA

The EUR/JPY pair moved slightly higher today, but bulls couldn’t march beyond the daily high at 130.86, being influenced by the week Japanese yen and the US treasury yields that closed lower. 

During the afternoon the pair is keeping neutral attitude and the current market price is 130.57.

On the four-hour time frame the price has crossed to below its 20-day SMA, that is turning to downside, but yet is above the 100-day and 200-day SMAs. Stochastic has just reached its mid-line, but has sharply turned to south. RSI is also located around the middles with strong bearish slope. However indicators are not pointing any sure directional strength. For the time being critical level remains the immediate support at 129.85, where now is located the 100-day SMA. Only in case of breaking it, the pair will be poised to extend its downward movement towards 129.50 (late July’s lows). Looking to the upside as first resistance should be considered the 130.70 – 130.80 area.