USD/JPY poised for more gains

3 May, 2017

The FOMC meeting could derail this, but USD/JPY has been rallying for the last couple of weeks and is now finding resistance around the 38.2% retracement of the sell-off from the start of the year. A break above here opens the way for a move to the 50% line at 113.39.
 
GBP/AUD still has upward momentum but the pair is struggling to make a sustained break above the highs of last December. If this proves successful, then look for a retest of recent highs around the 1.7410 mark.


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