FXE (euro ETF) completed a 2 day volume reversal today. This means that the prior day was a high volume down day and today was a high volume up day. Previous instances are highlighted. Most signals have been reliable. Near term, the important test remains the upper parallel from the short term fork, now near 1.1040. If EURUSD is going to recover then I’d think that 1.0885 provides support.
USDJPY has nearly reached the noted zone so pay attention. Aside from channel resistance, the level just above the market is defined by the late 2017 and 2018 highs at 114.55/74. A pullback from the zone would ‘make sense’. If reversal evidence arises, then there may be an opportunity to play the short side although 113.21 is in line for support (see below).