Kickstart the FX day for April 25 with a technical look at EURUSD, USDJPY and GBPUSD

Kickstart your Forex trading day with a technical look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD.

The US GDP data showed a bad mix with lower growth and higher inflation. That said stocks lower, yields higher, and the US dollar higher as well. That is been reflected in these three major currency pairs.

The USDJPY is banging against its highs for the day and moving further away from the 155.00 level. The EURUSD is moving back down toward a swing area between 1.0655 and 1.0675. The GBPUSD is moving lower as well and looks back toward its broken 38.2% retracement of the April trading range at 1.2455 after trading above the 100 bar moving average on the 4-hour chart at 1.25126 and failing.

This article was written by Greg Michalowski at www.forexlive.com.