US stocks futures reverse earlier loss and point to a higher open. The move was triggered by news that Facebook is going to streamline privacy settings. Facebook shares trade more than 1% higher in premarket. The development triggers intensified selling in JPY and CHF. Both are in deep red in 4H heatmap.
But for now, EUR/JPY is held well below 132.40 resistance, GBP/JPY below 150.92, and USD/JPY below 106.63. There is confirmation of bullish trend reversal in these pairs yet.
On the other hand, developments in CHF crosses look more promising. EUR/CHF is on track for a test on 1.1832 resistance.
GBP/CHF is even close to equivalent resistance at 1.3491.
Based on current momentum, 1.1832 in EUR/CHF and 1.3491 in GBP/CHF could be taken out without much problem.
