Dow heads towards July peak while EUR/JPY nears its July 2024 high and natural gas price rise stalls
Dow Jones heads towards July peak as S&P 500 and Nasdaq 100 hit record highs while EUR/JPY nears its July 2024 high and natural gas price rise stalls.
Dow heads towards record highs
The Dow Jones Industrial Average is seen heading back up towards its early July four-and-a-half month high at 44,885. En route lies the 10 July high at 44,775 and further up, the January peak at 45,054. These levels will remain in focus while Thursday's low at 43,759 underpins.
Support in case of a minor retracement can be found around the 7 July low at 44,160 and at the early March high of 44,044 and the 16 July trough at 43,759.
Dow Jones daily chart
EUR/JPY trades in one-year highs
EUR/JPY's swift advance has so far taken it to ¥173.24 and is on track for its eighth consecutive weekly rise.
Above this level beckons the July 2024 high at ¥175.42.
Minor support may be spotted between the 9 July high at ¥172.28 and the 16 July low at ¥171.85.
Further down, the 11 July low at ¥170.81 represents another possible support level.
EUR/JPY daily chart
Natural gas futures gradually advance
United States (US) natural gas futures' recovery from their 270.7 9 July low has so far taken these to their 312.1 mid-July high, with the 27 June high at 319.4 representing the next possible upside target.
Minor support below the 55-day simple moving average (SMA) at 302.8 sits between the 298.4 7 July high and the 200-day SMA at 298.0.
Further down lies a more significant support zone at 295.7 to 292.7.
Natural gas daily chart
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