EUR/USD: Seen Pressuring Fibonacci Support At $1.3156. Euro trades with a heavy tone and seen pressuring Fibonacci support at $1.3156, 23.6% of $1.2662 to $1.3308 move. The dragon-fly doji candlestick formation on Dec 19 and reversal in daily studies from overbought territory, where the fast 10-day momentum study is threatening to break below the zero line, implies downside risks.
RES 4: $1.3337 Daily Bollinger band top
RES 3: $1.3308 High 19 Dec
RES 2: $1.3295 High 20 Dec
RES 1: $1.3257/75 High 28 Dec, Resistance line from 19 Dec
LATEST PRICE: $1.3181
SUP 1: $1.3156 23.6% of $1.2662 to $1.3308
SUP 2: $1.3127 Reversal High Dec 5, 21-day moving average
SUP 3: $1.3067 Low 14 Dec
SUP 4: $1.2991/97 Support line from Nov 13, Low 12 Dec
GBP/USD: Bear-Divergence Signals On Daily Studies Still Noted. Bear-divergence signals on daily studies continues to remain dominant feature and implies downside risks in the wake of the double-top pattern at $1.6307/09. Initial support seen at the 5-day moving average at $1.6135 and break seen extending move to $1.6053/68, where the former is the 55-DMA and latter the 50.0% of $1.5829-$1.6307.
RES 4: $1.6427 High April 2011
RES 3: $1.6302/$1.6307/$1.6309 Apr 30 high,High Dec 19 2012, high Sep 21
RES 2: $1.6273/$1.6269 High Sep 28, daily Bollinger band top
RES 1: $1.6204 50.0% of $1.6307 to $1.6101
LATEST PRICE: $1.6163
SUP 1: $1.6135 5-day moving average
SUP 2: $1.6053/68 55-day moving average, 50.0% of $1.5829 to $1.6307
SUP 3: $1.6030 100-day moving average
SUP 4: $1.5962 Low Nov 28
USD/JPY: Back Within Bollinger Band – Upside Risks Remain. The pair is trading back with the Bollinger band but another push higher to test Y86.84, 23.6% of the decline from June 2007 high to Oct 2011 low — can’t be ruled out. Initial resistance is at Y86.64/77, where latter is the 2.00% moving average. Support noted at the 5-day moving average at Y85.67.
RES 4: Y88.11 High July 28, 2010
RES 3: Y87.23 55-month moving average
RES 2: Y86.84 23.6% of Y124.14 to Y75.32
RES 1: Y86.64/77 High Dec 28, 2.00% moving average envelope
LATEST PRICE: Y86.11
SUP 1: Y85.67 5-day moving average
SUP 2: Y85.25 Tenkan Line of Ichimoku
SUP 3: Y84.94 High Dec 24/25
SUP 4: Y84.17 Kijun line of Ichimoku cloud
EUR/JPY: Focus Remains On 200-Week Moving Average. Focus remains on the 200-week moving average, which is today valued at Y114.93 and another rally not ruled out as daily studies no longer look as overbought as last week. Support is at the 5-day moving average at Y113.20 and medium-term outlook remains constructive whilst above the Tenkan line of the Ichimoku cloud at Y112.66
RES 4: Y117.23 38.2% of Y123.32-Y113.52
RES 3: Y116.42/44 50% of Y138.70-Y94.14, 76.4% of Y123.33 to Y94.12
RES 2: Y115.22 Bollinger band top
RES 1: Y114.70/93 High 28 Dec, 200-week moving average
LATEST PRICE: Y113.50
SUP 1: Y113.20 5-day moving average
SUP 2: Y112.66 Tenkan line of Ichimoku cloud
SUP 3: Y112.01/02 Highs 24/25 Dec
SUP 4: Y110.63 Low Dec 21
EasyForexNews Research Team