Confirms: USD into Positive Territory

Contrary to JPY, CHF, EURO & CABLE

The remarkable price performance of the USD supported by the 5-1/2 lowest Jobless claim report is currently above the 82.10/20 basis point resistance level. This fresh catalyst have finally reinforced the USD market into the bull territory after gaining back its previous decline. 

After digesting mixed reports for the past couple of weeks, the market's price reaction effectively reflects a positive USD rally in continuation focused mainly on the USDJPY finally breaching the 100.00 levels made mention in our market view report dated the 6th of May, 2013. It obviously didn't take the market that long to actually penetrate this price level moving forward especially in the Asian trading session where the traders have aggressively maintained their objectives alongside with the BOJ stance of attaining a 2% inflation target. USDJPY is currently @101.00 as of this writing; likewise influencing the GBPJPY & EURJPY crosses higher with prices @155.98 & @131.72 respectively. 

Although, there were typical price moves and set-ups contrary to the prevailing market sentiments with the USD pullbacks while testing its lows several times. But these set-ups simply were just waiting for some fresh incentives to generate a follow-through. Easily said after the fact, however these price action now confirms our mid-term outlook for a positive USD while the USD-Index maintains above its higher secondary support. Click here to continue.