Kickstart the FX trading day for May 14 with a technical look at EURUSD, USDJPY and GBPUSD

The US PPI number came in stronger from the month but off revised lower numbers for last month. Ignore the gains and average the two months? The forex market initially moved higher off of the news with yields moving higher, but yields moved back toward unchanged on the day and the dollar sold off on the volatility.

IN the video above, I take a look at the technicals that are driving the 3 major currency pairs to start the US session – the EURUSD, USDJPY and GBPUSD. What has the price action done to the bias, the risks, the targets. I will outline each for the major pairs.

This article was written by Greg Michalowski at www.forexlive.com.