No Support has been broken. Triangle/Wedge formation.
Confluence of support seen with short term trend line (orange), 200 day moving average and long term trend line (red).
Failure to reach the upper channel line and a double top creates possible movement down to lower channel line and the psychological level at 1.6600.
Is the 1220 level going to be strong resistance for the Index?
My current thoughts on Linked.
Support from lower trend line and 200 day Moving Average.
Resistance, Resistance, Resistance
Resistance at 6600 and 6750. Support at 6400 and 6100.
Doji candlesticks at support, ready for next move up.
USDJPY Daily confluence of support.
SPX Daily further weakness.
USDJPY Daily uptrend support to hold.
Possible end to the re-tracement in the USDJPY. Back towards 100.00 and above.
Failure at this level again? The inclining trend line which started in March and was broken in May has now become resistance.
Looking for a retracement to sub 100 to enter on the long side.
Short Term Target
Next level of support seen at 1.5200.