Yahoo Finance 
The Weekly Volume Report: Accumulation or Distribution in USD/JPY?
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Talking Points
Turnover remains high in the pound
USD/JPY meanders on average volume
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Daily Volume Chart: EUR/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
EUR/USD continued its advance over the past week to trade at a new high for the month
Below average volume on the advance continues to raise questions about the underlying strength of the current advance
However, the move to new highs in daily OBV is supportive
A move under 1.1080 on above average volume is needed to turn us negative on the exchange rate
Daily Volume Chart: USD/JPY
Charts Created using Marketscope – Prepared by Kristian Kerr
USD/JPY remains in a sideways to lower range
Average volume during the recent consolidation is sheds little light on future directional path
Sideways action in the daily OBV is also unhelpful
A close back over 121.65 on above average volume would turn us positive on the pair
Daily Volume Chart: GBP/USD
Charts Created using Marketscope – Prepared by Kristian Kerr
GBP/USD continued higher to trade at its highest level in three weeks
Volume has been generally above average which is supportive of the rise
However, weakness in daily OBV remains persistent and is clear a potential negative
A daily close below 1.5335 on above average volume would turn us negative on the rate
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--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com
To contact Kristian, e-mail kkerr@fxcm.com. Follow me on Twitter @KKerrFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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