FxWirePro: USD/JPY grinds sideways at trendline resistance, US dollar barely moves in response to Biden's aggressive stimulus plan
FxWirePro: EUR/JPY 6-day bearish streak finds support at 55-EMA, break below eyes trendline support at 124.55
FxWirePro: USD/JPY grinds sideways between major moving averages, breakout required for clear direction
FxWirePro: GBP/NZD rallies above 1.9000 but reversal is likely
• GBP/NZD recovered ground on Monday as investors awaited outcome of EU-UK trade talks.
• GBP/NZD climbs above 1.9000 and holds near the day's high late US session. The pairs rebound has topped at 1.9040 (5DMA).
• Bulls will need a clear 1.9187 ( 38.2% fib) to take greater control, failure to break higher will spur fresh downward momentum.
• Technical signals are mixed as RSI has turned higher sharply higher, moving averages are trending down.
• Immediate resistance is located at 1.9040 ( 5 DMA), any close above will push the pair towards 1.9182 ( 38.2% fib).
• Immediate support is seen at 1.8922 (23.6%fib) and break below could take the pair towards 1.8900 (Psychological level).
Recommendation: Good to sell around 1.9080, with stop loss of 1.9200 and target price of 1.8980.