Yen Capitulation Sends GBPJPY to 17-Year Peak – 212.60 Next? 
FxWirePro: USD/CNY downside pressure builds, key support level In focus 
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106 
EUR/JPY Surges on Yen Weakness: Bullish Momentum Eyes 186-187 Targets 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention 
FxWirePro- Major US Indices 
FxWirePro:EUR/AUD eases but bullish outlook persists 
FxWirePro: GBP/AUD moves lower on weak UK data 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro: USD/ZAR extends losses ,eyes 16.400 level 
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path 
WTI crude oil trades weak on hawkish Fed. It hit a low of $76.80 yesterday and is currently trading at $78.02.
According to the Energy Information Administration (EIA), crude inventories increased by 1.8 million barrels for the week ending May 17th, 2024, compared to a forecast of -2.4 M.
Major factors for crude oil price movement-
US dollar index (Bullish)- negative for Crude.
Major resistance - 105/106.50.
Major support- 104/103.
Geopolitical tension- ceasefire talks stalled. (positive for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $77.59
Kijun-Sen- $78.44
The immediate resistance is around $78.50. Any jump above the target of $79.30/$80/$80.55/$81.20/$82/$82.53/$83. On the lower side, near-term support is around $7. Any breach below will drag the commodity down to $76.70/$75/$74.
It is good to sell on rallies around $80 with SL around $82 for a TP of $75.
