What are the close technical levels in play in the new trading day

EURUSD

The EURUSD fell below a flatter trend line and closed below that line. The high for the NY session (before Trump) moved up to 1.1886 and that is close risk for shorts. More conservative risk is the topside trend line at 1.1910 (and moving lower) and then the falling 100 hour MA at 1.1943 (and moving lower). The price has not traded above the 100 hour MA since April 19th. (blue line in the chart above).

On the downside, the low today at 1.1837 and then the lower trend line that connects lows going all the way back to April 17, comes in at around 1.1800 (and moving lower). If the sellers remain in control below the aforementioned levels, that line would be targeted.

GBPUSD

The GBPUSD continues to waffle above and below the 200 day MA at 1.3541 (see chart above).

The price has closed around that MA three days in a row. Yesterday, the price made a new session low but it was only by two pips.

That lack of momentum, sent the price back higher and up to the 100 hour MA (blue line currently at 1.35569).

The 200 day MA is at 1.3541. The 100 hour MA is at 1.35569. Until the price can close and stay above the 100 hour MA, the sellers remain more in control despite the failures below the old low and despite the ups and downs below the 200 day MA.

PS Yesterday the 100 hour MA was broken but that failed after one hourly bar close above the line. That is not good enough. We need to see momentum on a break of the 100 hour MA if the pair is going higher.

USDJPY

The USDJPY is chopping around with the 100 day MA below at 108.54 and the 200 day MA at 110.17. That is the wide.

The last 3+ days, the price has chopped higher and lower. It is not pretty (see red box in the chart above). Most of the trading has been between 109.335 (around the 200 hour MA and the 50% retracement), and 108.82 which is the 38.2% of the move up from the April 17th low. Yes, there has been breaks above the 109.335 yesterday and again on Monday, but the breaks were quickly reversed. ON the downside, the 38.2% was broken on Friday and Monday. Yesterday, the lows stalled against those levels.

So the extremes are 108.82 below and 109.335 above. In between, the chop is on.