AUD/JPY: Focus Firmly On $1.0290-00 Region. Thursdays close on the 21-DMA was followed up with a sharp fall to end the week that closed marginally above the 21 day lower Bollinger band. Focus firmly remains on retests of the $1.0290-00 region with the 200-DMA noted at $1.0295. With closes below the lower Bollinger band a rarity the AUD/USD is expected to oscillate around the band as the move lower continues.
RES 4: $1.0570 – 21 day upper Bollinger band
RES 3: $1.0509 – Previous daily support now resistance
RES 2: $1.0482 – 21 day moving average
RES 1: $1.0455 – Hourly Resistance Dec 21
LATEST PRICE: 1.0401
SUP 1: $1.0395 – 21 day lower Bollinger band
SUP 2: $1.0387 – Ichimoku cloud top
SUP 3: $1.0339 – Low Nov 21
SUP 4: $1.0298 – 200 day moving average
NZD/USD: $0.8170-00 Region Initial Support. The pair crashed below the 21-DMA on Friday with initial support now noted in the $0.8170-00 region and overall focus having shifted to retests of the $0.8055-80 region. As the sequence of lower daily lows and highs is expected to continue we will look for a close above Friday’s high to relieve the immediate bearish pressure.
RES 4: $0.8474 – 2012 high Dec 14
RES 3: $0.8420 – High Dec 19
RES 2: $0.8346 – High Dec 21
RES 1: $0.8313 – 21 day moving average
LATEST PRICE: 0.8235
SUP 1: $0.8195 – 100 day moving average
SUP 2: $0.8172 – Low Dec 3
SUP 3: $0.8136 – 21 day lower Bollinger band
SUP 4: $0.8114 – Low Nov 21
AUD/JPY: Immediate Bullish Pressure Relieved. AUD/JPY closed last week on a bearish note breaking below the initial support and increasing the likelihood of a tests of the 21-DMA which is now initial support. A close above the Dec 14 highs is now needed to kick start topside momentum. On the downside we will look for a close below the 21-DMA to indicate a shift lower in focus back to the double daily bottom around Jpy82.00 from late Oct/early Nov.
RES 4: Jpy89.24 – 21 day upper Bollinger band
RES 3: Jpy89.04 – 2012 high Dec 14
RES 2: Jpy88.88 – High Dec 19
RES 1: Jpy87.95 – Hourly resistance Dec 21
LATEST PRICE: 87.61
SUP 1: Jpy86.95 – 21 day moving average
SUP 2: Jpy86.07 – Low Dec 10
SUP 3: Jpy85.27 – Low Nov 28
SUP 4: Jpy84.15 – Previous daily resistance now support
USD/KRW: Gently Bouncing From 2012 Low. The cross remains confined to narrow ranges as it gently bounces from the recent fresh 2012 lows. The 21-DMA remains initial resistance but we will now look for a close above the previous support around Krw1080.7 as a confirmation of the break of the 21-DMA. While the Krw1079.4-1080.7 region continues to cap spikes below the lower Bollinger are expected to restart.
RES 4: Krw1109.9 – Previous daily support now resistance
RES 3: Krw1094.4 – High Nov 16
RES 2: Krw1089.5 – 21 day upper Bollinger band
RES 1: Krw1079.4 – 21 day moving average
LATEST PRICE: 1076.2
SUP 1: Krw1071.2 – 2012 low Dec 18
SUP 2: Krw1060.4 – Monthly low Sept 2
SUP 3: Krw1048.3 – 2011 low Aug 1
SUP 4: Krw1047.3 – Falling daily channel base
USD/SGD: Nov 28 High Pivotal Resistance. USD/SGD managed to close above the 21-DMA to end last week but we will continue to look for a close above the Nov 28 high to remove the overall focus from retests of the 2012 low. A close above Sgd1.2243 would see the immediate focus shift to the Sgd1.2295-00 region with the 100-DMA adding significance and coming in around the Sgd1.2297 level.
RES 4: Sgd1.2339 – High Sept 26
RES 3: Sgd1.2296 – High Nov 16
RES 2: Sgd1.2271 – Double daily top Nov 19 & 21
RES 1: Sgd1.2243 – High Nov 28
LATEST PRICE: 1.2208
SUP 1: Sgd1.2169 – Low Dec 18
SUP 2: Sgd1.2153 – 2012 low Oct 22 2012
SUP 3: Sgd1.2074 – Low Sept 8 2011
SUP 4: Sgd1.2021 – Low Aug 31 2011
EasyForexNews Research Team