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Forex: EURUSD Down First Day in 8, USDJPY Tests 5-Year Highs

Forex: EURUSD Down First Day in 8, USDJPY Tests 5-Year Highs

John Kicklighter, Chief Strategist

Talking Points:

EURUSD broke a 7-day advance (the longest in 12 months) and USDJPY is above 103.50

• The S&P 500 has technically broken the neckline of a head-and-shoulders pattern at 1,780

• Follow through or reversal, markets are struggling to gain traction due to fundamentals, seasonality

What kind of Trading best suits you? Technical or Fundamental? Short-term or Long-term? Take our Trader Survey and find out.

The temptation keeps building. Those that were able to resist the longest run in EURUSD in 12-months or a high-profile S&P 500 reversal pattern were further cajoled by signal breaks. Yet, despite the technical cues, we are still light on fundamental fuel into the final 24 hours of this week and market conditions continue to fade as we slip further into holiday trading conditions. In today's Trading Video, we discuss continuation versus reversal, fundamental themes versus catalysts, and trade options.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.