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USDJPY higher after break on three year downtrend line


EURUSD Pair
EURUSD further lower on broad USD strength and higher UST yield with DJI loss of -0.88% and seeing some stable sign with US/China will resume the trade talks. Today Germany CPI same as expected (m/m at 0.1% y/y at 2.1%) and later US CPI as well as stock/bond market move will have some intraday impact. Support at 1.1670 and resistance at 1.1780, still prefer keeping buy on dips with tight stop strategy.

USDJPY Pair
USDJPY higher after break 111.50 on three year downtrend resistance line which driven more stop loss buying as well as in broad USD strengthening effect. Technical overbought but upside momentum remain strong despite of the trade tension with US/China accelerating. BOJ reinforcing current policy stance as well as higher Nikkei also give some support for the pair. Today US CPI and stock/bond market move will have some intraday impact. Support at 111.50 and 112.00 with resistance at 112.50, current level prefer in range trading with tight stop strategy.

GBPUSD Pair
GBPUSD grids down to 1.3190 earlier with broad USD strength effect as well as some GBP cross short covering ahead of Brexit white paper publishing that set the future guideline with EU and will direct the short term GBP direction. Besides US CPI and stock/bond market move will have some intraday impact. Support at 1.3150 and resistance at 1.3250, current level still prefer keeping sell on rallies with tight stop strategy.

USDCHF Pair
USDCHF higher with broad USD strength and gradually higher EURCHF with stock market looking some stable sign after earlier drop with US/China trade tension. Today US CPI and stock/bond market will have some intraday impact. Support at 0.9930 and resistance at 0.9970, still to prefer in range trading with tight stop strategy.

EURJPY Pair
EURJPY higher on heavy short covering as well as higher USDJPY and break above 111.50 driven the broad JPY cross recovery effect. Higher Nikkei and market digesting tension for US/China trade also support the cross despite technical overbought. Today US CPI and stock/bond market move will have some intraday impact. Support at 130.50-60 and resistance at 131.50 and 132.00, current level still to prefer in range trading with tight stop strategy.

EURGBP Pair
EURGBP around similar level from yesterday and little incentive for break 0.88 or 0.89 on either side. Today UK government publishing Brexit white paper and US CPI data as well as stock/bond market move will direct the cross intraday movement. Support at 0.8810-20 and resistance at 0.8900-10, still to prefer buy on dips with tight stop strategy.

Gold Bars
GOLD drifts down on broad USD strength and in commodity currencies weakness effect. Market worries for global economy slow down after the widespread of trade war risk increasing. Today US CPI and stock/bond market move will have some intraday impact. Physical demand around 1240 will still support GOLD on lower side and preferring still the in range consolidation pattern.

Silver Bars
Silver lower gradually with the same direction of GOLD and broad USD strength still adding some short term pressure for Silver. Today US CPI and stock/bond market move will have some intraday impact. Support at 15.80 and resistance at 16.25, current level still to prefer range trading with tight stop strategy.


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