USD/JPY trades at 159.359 after gaining 41 pips from Monday's open, with Tokyo inflation data and US GDP the key tests ahead.
US30 opened Monday at 49,371 and closed Friday at 50,551, gaining 1,180 points or 2.4%. The index pushed through the psychological 50,000 level on Wednesday and held above it for the remainder of the week.
This week brings an empty economic calendar with no high-impact events scheduled for US30. The absence of major data releases or Fed speeches shifts focus entirely to technical price action.
Without economic catalysts, traders will watch whether the index can sustain its position above 50,000 or if profit-taking emerges at these elevated levels. Volume patterns and any unexpected headlines will carry more weight than usual.
If US30 maintains support above 50,000 early in the week, the Friday high at 50,837 becomes the next reference point. A daily close above that level would target the round 51,000 mark. If the index slips back below 50,000, the prior week's low at 49,074 comes into view as potential support.
LHFX client positioning shows 58.3% of traders are long US30 versus 41.7% short as of Sunday. This moderate bullish tilt suggests traders expect the 50,000 breakout to hold, though the skew isn't extreme enough to signal overcrowding on either side.
The psychological 50,000 level stands out as the week's pivot point after last week's breakout. Above it, Friday's high at 50,837 offers the next resistance test. Below 50,000, the May 19 low at 49,236 provides intermediate support before the weekly low at 49,074. These are reference levels for context, not entry signals.
Byline: LHFX Research
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EUR/USD sits at 1.16379 after grinding sideways for three days, with positioning nearly balanced at 51.6% long.
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