DAILY TECHNICAL ANALYSIS FOR JUNE 09, 2022
EUR/USD
Current level – 1.0716
The single European currency continued to move in the range between 1.0640 and 1.0750, but yesterday’s trading session was more successful for the bulls as they tried to breach the closest resistance at 1.0746, which is the upper limit of the range. Their attempt to break through was unsuccessful, however, and they once more failed to come anywhere near the psychological resistance at 1.0800. If the bears manage to overcome the lower limit of the range at 1.0643, then it is possible that we could witness an attempt at overcoming the support at 1.0544. Important news for today, which will affect the currency pair, are the European Central Bank Interest Rate Decision (11:45 GMT), the follow-up press conference, when the ECB is expected to signal a rate hike in July, and the Initial Jobless Claims report (12:30 GMT).
![](https://dayfinanceltd.com/wp-content/uploads/2022/06/11-6.png)
USD/JPY
Current level – 134.43
The Ninja rally continues in full force and it seems like there is nothing stopping the bulls from climbing all the way to the top. The next key resistance for traders would be the level of 135.00, a level that has not been reached for nearly 20 years. During today’s trading session, the Japanese yen rose by almost a figure. However, if the bears manage to gain the upper hand, then they would probably have to breach the support at 133.00.
![](https://dayfinanceltd.com/wp-content/uploads/2022/06/22-6.png)
GBP/USD
Current level – 1.2537
The sterling continues to consolidate in the long-term range between 1.2400 and 1.265, as neither the bears nor the bulls have so far managed to gather enough momentum to breach the range. Breaking the upper limit for the bulls would mean that they will most likely have to deal with the resistance at 1.2770. On the other hand, if the bears manage to limit the sales to the point where they can breach the lower limit, then the next key support that needs to be overcome would be the level of 1.2370.
![](https://dayfinanceltd.com/wp-content/uploads/2022/06/33-6.png)
Gold price leans on the support
![](https://dayfinanceltd.com/wp-content/uploads/2022/06/44-6-1024x476.png)
Gold price fluctuates at the bullish channel’s support line, and prepares to build new bullish wave in the upcoming sessions, waiting to visit 1890.00 that represents our next main target.
The EMA50 supports the expected rise, noting that breaking 1850.00 followed by 1838.10 levels will stop the suggested positive scenario and press on the price to turn to decline.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Bullish
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