USDJPY trades at new highsThe durable goods orders were pretty good with revisions to the upside helping.
That has helped the dollar move higher. The US rates are also better with the 10 year now up about 5.7 bps. That should be supportive to bank stocks too today. Gold is now down -$8.00
The USDJPY has is trading above 113.00 now. Looking at the 4-hour chart below, the price is above the yellow area. That was a swing area going back to July. It now is risk for longs (from 113.815 to 113.93).
For the EURUSD, the pair is moving back toward it’s London lows at 1.1730. The 38.2% of the move up from the June low comes in at 1.1720. The 200 week moving average is at 1.1718. The August 2015 swing high comes in at 1.1711.
All that should give traders a cause for pause on a test, but on a break, I would expect stops.