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1. USDJPY: Bulls advance toward 61.8 % retracement barrier

   The USDJPY just notched fresh intraday—and multi-week—highs, pushing firmly into the yellow swing zone that capped rallies in early May (145.92-146.25). Price is now only a handful of pips from the 61.8 % retracement of the May slide at 146.148, a level that often acts as a “last line” for corrective moves.

   Importantly, every pullback over the past few hours found buyers right at yesterday’s highs near 145.76. That “old-high-becomes-new-support” pattern underscores a market leaning bullish and using shallow dips to reload. Unless the pair slips back below that shelf—and the 50 % midpoint of the May range at 145.375—the path of least resistance remains higher, with traders eyeing a full breach of 146.24 that could open the door toward higher levels in the pair.

   Single-line key levels • resistance: 146.148 • 61.8 % retrace • resistance: 146.25 • swing-zone top • support: 145.76• prior highs/short-term floor • support: 145.375 • 50 % May range • support: 145.15 • 100-hour MA

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

2. USDCHF has a modest bullish bias above the 100/200 hour MA and swing area

   The USDCHF spent the week grinding higher, carving out a Monday-to-Thursday range of 0.8055 → 0.8213. Buyers ran into determined sellers just a few pips beneath the 38.2 % retracement of the April–May decline, halting momentum and forcing a modest pullback to the 0.8150 to 0.8160 area.

   A second technical fulcrum sits just below current level at 0.8170: the now-converged 100- and 200-hour moving averages (0.8158 / 0.8163). Price briefly pierced the 100-hour line today before snapping back above—keeping short-term control in the buyers’ hands for now.

   Heading into next week, the pair is boxed in: a break above 0.8213/38.2 % would add fresh bullish fuel, while a sustained dip through the twin MAs would hand the initiative to sellers and re-open the downsist with 0.8146 the final support before a likely greater move to the downside.

   Geopolitical headlines may whip intraday sentiment, but the technical map is clear.

   Key levels (single-line bullets)

   • Resistance 1: 0.8213 - 0.8216• 38.2 % of Apr-May fall

   • Resistance 2: 0.8249 • Highs from June

   • Support 1: 0.8163 • 200-hour MA

   • Support 2: 0.8158 • 100-hour MA

   • Support 3: 0.8146 swing level.

   • Support 4 Move below opens the downside for more selling potential with the lows for the week at 0.8091 and for une at 0.80554 as targets

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

3. GBPUSD: sellers press, but key support looms

   The GBPUSD rebound has petered out just below the underside of the broken trend-line and the 200-hour moving average (~1.35136). That confluence allowed sellers to cap the advance and shove price back under the 100-hour MA (~1.3480).

   With momentum now fading, focus shifts to the next technical decision point:

   • Immediate resistance – 100-hour MA 1.3480; 200-hour MA / trend-line 1.3513.

   • Crucial support – yellow swing area 1.3455-1.3473 and the 38.2 % retrace of the May-to-June rise at 1.3455.

   A clean break below 1.3455 and the 38.2% of the move up from the May low at 1.3445, would open the door toward a swing level at 1.3414 and the 50 % level near 1.33869. Conversely, reclaiming 1.35136 would neutralise the downside and shift the bias back higher and toward 1.3590 and last week’s high at 1.36337.

   Fundamentally in the UK this week:

   UK-data wrap (this week):

   • Wed 18 Jun – UK CPI (May): Headline inflation slipped to 3.4 % YoY (prev 3.5 %), core eased to 3.5 %, while services stayed sticky at 5 %+; drop kept BoE-cut bets alive but lingering price pressure tempered sterling losses.

   • Thu 19 Jun – BoE MPC: Bank Rate held at 4.25 % with a unexpectedly dovish 6-3 vote split; minutes flagged softer wage growth and labour-market slack, signaling a data-dependent but “gradual and careful” path to easing—initially capping GBP upside.

   • Fri 20 Jun – UK Retail Sales (May): Volumes plunged -2.7 % m/m (cons -0.5 %), the sharpest drop since Dec-23; broad-based weakness revived growth worries and nudged GBPUSD lower in early trade.

   Chart & analysis: Greg Michalowski, ForexLive.com — author of “Attacking Currency Trends”

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

4. USDJPY extends higher, testing key resistance after shrugging off Waller dip

   The USDJPY is surging higher after briefly dipping on the back of dovish FOMC commentary from Vice Chair Christopher Waller. That dip found support near the 50% midpoint of the May high to low move at 145.375—a key technical level that helped re-anchor bullish sentiment.

   Since then, the pair has rebounded sharply, making new highs for the day, the week, and reaching levels not seen since May 29. The price is now testing a key swing area between 145.919 and 146.25, which also includes the 61.8% retracement of the May decline at 146.148. Getting above those levels and staying above would be the next hurdle for the buyers. Sellers looking for an area to sell the USDJPY would be looking to lean in this area.

   On the week, USDJPY is up solidly from last Friday’s closing level of 144.06, adding to bullish momentum. For the week, the price is up 4 of 5 trading days and has been up 5 of 6 days.

   🔹 Key resistance:

   • Swing area: 145.919–146.25

   • 61.8% retracement: 146.148

   🔹 Key support:

   • HIgh from yesterday: 146.77

   • 50% midpoint: 145.375

   • 100-hour MA: ~145.05

   A break above the current zone would shift focus toward 147.20–147.38. But failure to clear 146.25 could bring sellers back into play short term.

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

5. EURUSD: Buyers leaning in—but can they break free?

   The EURUSD sellers had their shot, breaking below the 200-hour MA late Wednesday and driving the pair to a low and swing level at 1.1445. Buyers leaned against that level and helped push the price back up, retesting the 200-hour MA by day’s end yesterday.

   In the Asian session today, the pair finally broke above the 200-hour MA (green line), extended through the 100-hour MA, and reached the swing area between 1.15239 and 1.15295. But in early European trading, momentum stalled, and the price rotated back lower.

   Now, the pair is testing the converged 100- and 200-hour MAs between 1.1507 and 1.1513—once again a key barometer for directional bias.

   • Break lower: Opens the door toward 1.1486 and the weekly low at 1.1445

   • Hold support and rebound: A move back above 1.15295 would be needed to reassert buyer control

   The battle at the moving averages is back on for now. How will the market respond at the key confluence area. .

   📌 Key support:

   • 100/200-hour MAs: 1.1507 – 1.1513

   • Swing-level: 1.1486

   • Low for the week 1.1445

   📌 Key resistance:

   • Swing area: 1.15235 – 1.15295

   • High from earlier this week (Tuesday) : near 1.1578

   Buyers are trying to wrestle back control and MA levels

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