Nylon handover: USDJPY bearish bias and trading below daily pivot; targeting 101.50

A snapshot view of yesterday’s New York - London session with technical notes...

Soft data from US along with rising escalation in Iraq saw the Greenback sold across the board and Oil break to new highs

VIX saw its biggest single day gain in 3-weeks whilst geo-political tensions rose and traded from the 7-year lows

GBPUSD traded to a 4-week high following BoE talking up interest rates

Money flowed into Bonds and safe havens, pushing Yields down

AUD and NZD edged lower from their highs set in the Asia session but remains technically bullish

FOREX:

DXY Rejected by Weekly R1 Pivot and confirmed Evening Star Reversal to further suggest 81.60 is a top

AUDUSD break above 0.940 and 25 pips shy of our 0.945 target; Bullish above 0.940 with a break above e 0.945 opening up 0.950

EURUSD Defended 1.350 support with a small bullish engulfing candle; bias is neutral with resistance at 1.3858 and support at 1.350

GBPUSD trades at a 5-week high following interest rate hints from BoE Mark Carney; Today's bias is bullish above 1.6920

USDCAD Edges lower within the sideways correction but D1 bias remains bullish above 1.08

USDCHF Bearish outside day and back below 0.90; Failure to trade back to 0.9035 hi suggests topping pattern may be forming

USDJPY bearish bias and trading below daily pivot; targeting 101.50

NZDUSD Reached 0.87 target and edging lower; bias remains bullish above 0.864 on D1

INDICES:

NASDAQ bearish engulfing candle closed down for 2nd consecutive session but holds above 3740 support

S&P has closed down for a 2nd consecutive day, the first time this has happened for 1-month following continued break to record high.

COMMODITIES:

GOLD broke $1268 support and en route to reach $1277 resistance as geo political tensions rise

SILVER closed above $19.50 with next resistance at $9.65 and $19.83

WTI up 2% and BRENT gained 2.8% following the turmoil in Iraq with gains continuing during Early Asia trading. WTI 's next resistance level is $107.7 (Monthly R2 Pivot) and confirmed the bullish continuation pattern highlighted 2 weeks ago (Double bottom) to target $1125.50

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