The USDJPY finally seems to be coming around to the forex figure we were discussing a couple days ago. The fact is, the market moves at its own pace, and sometimes we Pipsters have to just hang around until the market comes ’round and makes sense again. Well, sense has appeared again, and we look to be retesting our figure.
The EURUSD rested through Asia, as it apparently did through New York before that… and London before that. That said, we have seen a pretty slow creep toward the 1.3080 figure we were eyeing sometime late last week. As we Pipsters all know, support, when broken, often becomes resistance.
And to close out this pre London setup talk, Cable has decided to show some life and potentially threaten some of the highs from last week. Trends are easier to trade than the chop. This is a Pipster belief, and we’ll continue to wait to see that we’ve really broken from the choppy chop Cable has been in as of the last few weeks.