The DXY has developed an ascending wedge as we stall near the 50% retracement of the last move lower.
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.
The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today.
The EURJPY has bounced back to the breakdown point near the 125.00 level which is a do or die level for the bulls.
After a huge move that pushed it from as high as $77 to almost 42 within a 3 month period, crude found a low 1 day before the Christmas break.