GBP/USD grinds higher within bearish wedge
GBP/USD has been moving higher over recent trade days. The wider downtrend remains relevant here, with this recent resurgence looking like a short-term retracement before we move lower once more.
With that in mind, rallies look like selling opportunities, with a break through $1.2978 required to negate this view.
USD/JPY shows signs of resurgence
USD/JPY saw a strong end to the week just gone, with question marks being raised over the longevity of this recent downtrend. Interestingly, we saw the price break through $110.81 resistance, weakening at the $111.42 mark.
As such, with the price moving higher once more, a break through $111.42 would provide us with a bullish short-term view for the pair. Conversely, a failure to do so, followed by a break below $110.64 would look likely to bring a more bearing tilt to this market.