EUR/USD: The pair showed strong upward pressure toward the end of last week as it moved above $1.3000 and struggled to hold above. Price action today already above this level but holds below initial res, at $1.3020/35, 50.0% of $1.3243-1.2797 and 200-DMA. Above here, key res at $1.3071/73, Feb 1 res line and 61.8% level, break and hold above here likely turns the pair bullish. However, failure again encourages bears, initial support at $1.2980, the 55-DMA.
R 4: $1.3126/38 Daily Bollinger band top
R 3: $1.3111/15/16/17 100-DMA, Apr 29, 22 highs
R 2: $1.3061/72/73 High May 30
R 1: $1.3020/35 50.0% of $1.3243-1.2797, 200-DMA
Latest price: $1.3005
S 1: $1.2967/71/74/80 55-DMA
S 2: $1.2934/36/37 High May 21, Low May 10
S 3: $1.2902/08 Former 23.6% of $1.3243-1.2797, Jul 2012 Support line
S 4: $1.2877/85 50.0% of $1.2043-1.3711, 55-week MA
GBP/USD: The cross recovered some losses last week, but failed to close above the 38.2% $1.5606-1.4832, despite the bullish daily studies. However, wkly and monthly studies continue to decline and bears look to break below the key support at $1.5015, the 76.4% of $1.4832-1.5606. The mixed studies have added pressure to upside and break above initial res, at $1.5237/46, 38.2% of $1.5606-1.5009 and 21-DMA, could allow bulls to take control, but failure again encourages bears.
R 4: $1.5358/68/78 100-DMA, High Apr 19
R 3: $1.5308/10/14 May 10 low
R 2: $1.5274 55-DMA
R 1: $1.5237/46 21-DMA
Latest price: $1.5210
S 1: $1.5164 5-DMA
S 2: $1.5113/28 Low May 21
S 3: $1.5014/15 Low May 23
S 4: $1.4952 Daily Bollinger band base
USD/JPY: Dollar still holds above the daily Kijun line, still initial support at Y100.38, while daily studies continue to track lower. A break below here would encourage a move to test the Jan 23 support line (at Y99.46) before running into the 38.2% of Y90.88-103.74 at Y98.83 just below the daily Bolli base at Y98.93. Monthly chart shows a long upper shadow and monthly studies slowing, adding pressure to downside, bulls require to hold above Kijun.
R 4: Y103.26/31 Feb 11 resistance line, High May 17
R 3: Y102.76/89 Highs May 15, 21
R 2: Y101.98/102.7/15 Daily Tenkan line, High May 13
R 1: Y101.38/45 21-DMA
Latest price: Y100.44
S 1: Y100.38 Daily Kijun line
S 2: Y99.46 Support line from Jan 23
S 3: Y98.83/93 Daily Bollinger band base
S 4: Y98.45/49/58/65 High May 6, Low Apr 23, Low May 8
EUR/JPY: The pair still stuck between the dly Kijun and Tenkan lines, which the pair hasn’t closed out of since May 23, supp and res at Y130.43 and Y131.89, respectively. Dly studies continue to decline but mthly studies are bullish, the mthly chart suggests there is further scope to the upside, but bulls need to break above Tenkan and close above the 50.0% of Y169.96-94.12, strong resistance at Y132.04. Failure here again could flip sentiment to the downside.
R 4: Y133.08 Daily Bollinger band top
R 3: Y132.77/87 High May 14, High May 23
R 2: Y131.89/132.04/08 Daily Tenkan line, May 31 high
R 1: Y131.12/18/36 High Apr 11, Low May 15, 21-DMA
Latest price: Y130.60
S 1: Y130.33/42/43 May 8 high, Daily Kijun line
S 2: Y129.91/97 Highs Apr 25 & May 2, Low May 23
S 3: Y129.64 Daily Bollinger band base
S 4: Y128.98 Low May 8