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.
SPX500 opened Monday at 7389.4 and closed Friday at 7468, gaining 78.6 points or 1.06% across the five sessions. Thursday's surge to 7466.4 and Friday's test of 7506.7 marked the week's bullish momentum.
This week features an empty economic calendar for SPX500. With no Federal Reserve speeches, major data releases, or earnings announcements in the bundle, price action will likely follow technical patterns and any unexpected headlines.
The absence of scheduled catalysts shifts focus to the 7500 psychological level that capped Friday's advance. Light news flow often produces range-bound trading or continuation of the prevailing trend.
If SPX500 clears and holds above Friday's high at 7506.7, the next reference point sits near 7550 based on measured moves. A rejection at current levels would put the 7400 zone back in focus, which acted as support during Wednesday's session. Without event risk, these moves may unfold gradually rather than in sharp bursts.
LHFX client sentiment shows 56.8% of positions are long versus 43.2% short as of Sunday morning. This modest bullish skew aligns with last week's upward grind but isn't extreme enough to suggest crowded positioning that often precedes reversals.
Friday's high at 7506.7 stands as immediate resistance after rejecting price into the close. The 7400 round number served as a pivot zone three times last week and offers nearby support. Below that, Tuesday's low at 7333.2 marks the week's floor. 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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