Greetings again, Everyone!

As expected, we continue to see Accumulation as we move closer and closer the The FOMC Decision, as well as Durable Goods, New Home Sales, and the EIA Oil Inventories.

( We will check in with these Topics in our next couple of Updates, as Price will need to “digest” and see New Areas of Reference moving into The FOMC… )

We are seeing Key Levels of Support and Resistance being respected across most Units as of this Writing, as Price is already defining Its Ranges and Areas ahead of Data-Risk Events.

Here is the GBP/JPY, for example… which is Illustrative of clear Reference Levels.

Give The Capture a Click for Levels, and Commentary above… Post-Time is 7:30 GMT.

Price holds firmly at the “Transitive Rollover” Area of  the 157.60’s with Weekly 61.8% Fib Variant Downleg Confluence.

A Breach sees the 158.80 Daily Resistance Resistance Area… while a Rejection sees a return to Dynamic Suport at the 156.30’s Level. Whiel slight Upside Appreciation is favored, Consolidation through “Muted” Action may beseen leading into Risk-Events moving forward, as Price works the defined Range here.

Several more Updates will be on the way today, in consideration of the several Risk-Events we mentioned!

In the Interim, please have a look at The 7:00 GMT “Currency Majors Technical Perspective” Report  for more Immediate-Term Detail.

I also invite you to have a look at the new Special Section I have developed with FXstreet for Fundamental Analysis is under the Education Tab of the FXstreet Home Page.

The Section is called ”Fundamental Forex Foundations”, which will be a Series of Topics focused on the Majors Data Points we see that directly “Affect” Currency Traders and those in the Foreign Exchange World.

The First Two Installments are there…  “The Federal Reserve and The FOMC Committee”…  a timely Topic we are dealing with right now, and then  “The Non-Farm Payrolls Data”  released a bit early for NFP in a couple of weeks!

Please join me soon for more Updates as we continue with our Active Day!