GBPUSD falls lower
 

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The GBP (Pound) has seen gains against the dollar erased as the pair continues to sell off. With price action moving lower, the 1.3500 level becomes the next downside test. If this trend corrects, the recent peak at 1.3700 could lead the way back up to a possible test of 1.3850. Failing that, any signs of continued weakness would put December’s bottom around the 1.3400 area in the spotlight.
 

USDJPY continuing higher
 

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The corrective bounce against the Japanese yen continues, with the 157.00 level breached for the first time this month. The pair is now aiming for four straight days of increases from the past few sessions with a rise of over 500 pips. With the RSI looking to break new highs in the overbought zone, prices are expected to slow down from the recent trend. A close above 157.50 could push the greenback towards 158.30, with 152.00 as a key support on the downside.
 

XAGUSD hits rejection
 

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Since its bullish momentum from the start of the year, silver is looking to remain stable above the 72.00 level after the recent downturn. Prices have found support at the 72.00 region, preventing a complete collapse; a break here could open the way to 71.50 and then 70.80. If bulls step in, the psychological 91.00 level could be recaptured, with another upturn towards 100.00 in play.

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