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Dollar finds its mojo as the options go off

USD finds a bid as USDJPY breaks old S&R at 108.55/60

There's some renewed positivity flowing through markets. Stocks are holding up and the dollar is responding too.

GBPUSD has dropped to break 1.4220 support, and 1.4200 could be the final make or break of today's rally.

USDJPY has moved above the short term S&R level at 108.55/60 but still has a lot of work to do to reverse the current mess.

The pain remains while we stay below 110.00.

USDJPY H1 chart

A real test will be the 110 level and the 38.2 fib of the March drop. The 55 H4ma is edging it's way there too and is currently at 110.08. It's building up to be quite a level on the tech side.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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