EUR/USD: The pair moves higher to test resistance again, now back above the 5-DMA, initial support at $1.2924. Studies still have a bullish slant but the range-trading seen recently has yet to indicate a breakout. Resistance seen from Fibonacci levels, the pair holds just below initial res at $1.2967/74/79, the 38.2% of $1.3243-1.2797, 23.6% of $1.3711-1.2746 and 55-DMA. Break above here runs into key res level around $1.3000, also May 22 high
R 4: $1.3073/87 Feb 1 Res line
R 3: $1.3020/29 50.0% of $1.3243-1.2797, 200-DMA
R 2: $1.2998 High May 22
R 1: $1.2974/79 55-DMA
Latest price: $1.2955
S 1: $1.2912/24 Low May 14, 5-DMA
S 2: $1.2901/02 Former 23.6% of $1.3243-1.2797
S 3: $1.2838/43/47/54 Lows May 30, 15, 16, May 17 Support line
S 4: $1.2797/2804 Low May 17, Reversal low Oct 2012
GBP/USD: The cross rebounds from the 76.4% level once more prompting daily studies to tick a little higher, but weekly and monthly studies are still bearish and bears will be looking to retest this level again. Bulls have managed to creep back above the 61.8% level and hold just below the high of May 27 and low of May 15, initial res at $1.5156/74, respectively. Break above could see bulls recoup some losses, but failure again threatens 76.4% level at $1.5015.
R 4: $1.5310/14 May 10 low
R 3: $1.5265/74 55-DMA, 21-DMA
R 2: $1.5207/19 Low May 14
R 1: $1.5174 High May 27, Lows May 15
Latest price: $1.5165
S 1: $1.5107/13/28 5-DMA, Low May 21
S 2: $1.5014/15 Low May 23
S 3: $1.4926 Daily Bollinger band base
S 4: $1.4832 Low Mar 12
USD/JPY: The pair declines again to hit its lowest level in 20 days, but holds above the daily Kijun line and 23.6% of Y90.88-103.74 for now, support at Y100.38 and Y100.71. Daily studies are much lower and further support seen at Y99.22/47, the Jan 23 support line and 38.2% of Y92.57-103.74. However, failure to close below the 23.6% at Y100.71 could see the pair rebound to retest the Feb 11 res line and May 22 high at Y103.04 and Y103.74.
R 4: Y103.31 High May 17
R 3: Y102.76/89/103.04 Highs May 15, 21, Feb 11 resistance line
R 2: Y102.15/16 High May 13, Daily Tenkan line
R 1: Y101.45/54 Hourly high
Latest price: Y100.75
S 1: Y100.38 Daily Kijun line
S 2: Y99.22/47 Support line from Jan 23
S 3: Y98.83 38.2% of Y90.88-103.74
S 4: Y98.45/47/49/58 High May 6, 55-DMA
EUR/JPY: The cross continues to test the 23.6% retracement of the move from Y119.11 to Y133.80 as support at Y130.33, which is also the hourly low, just below the dly Kijun at Y130.43. A break below here would open the downside to further losses, seeing a further key supp level around Y128.83, the daily Bolli base. However, another failure lower could turn sentiment to the upside, res levels roughly remain the same, initial res at Y131.89, the dly Tenkan.
R 4: Y133.71/80/94 Feb 6 res line, High May 22, Weekly Bollinger band top
R 3: Y133.47 Daily Bollinger band top
R 2: Y132.77/87 High May 14, High May 23
R 1: Y131.82/89/132.04 100-mth MA, Daily Tenkan line
Latest price: Y130.62
S 1: Y130.33/42/43 23.6% of Y119.11-133.80, May 8 high, Daily Kijun line
S 2: Y129.91/97 Highs Apr 25 & May 2, Low May 23
S 3: Y128.83 Daily Bollinger band base
S 4: Y128.19 38.2% of Y119.11-133.80