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EUR/USD confirms interim double top as USD/JPY extends gains above 159
The USD/JPY has taken out the earlier Asian high and since then advanced further above the 159 handle. The dollar just now traded to 159.23 and that further rise has allowed the EUR/USD to fall below 1.1669, but it sure was sticky around that level earlier this morning, as it held fast for a long time. The EUR/USD has just now hit a session low at 1.1663 and we remind readers of what we said earlier today.
The break below 1.1669 could set up a test of the 200 day moving average, which is in place today at 1.1632. The measured move from 1.1711 does imply an immediate downside target for the EUR/USD at 1.1627. So, now we see it that is where it heads to from here on. The EUR/USD is right now at 1.1664
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