EUR/USD: The pair gets pressured higher to rise above the former Feb 1 res line, but now is slipping back below. Daily and weekly studies still bullish, but monthly studies more flat. Initial supp at $1.3020/26/38, the 50% $1.3243-1.2797, 5 and 200-DMAs, strong support expected here and will be tested if pair slips below the May 30 high at $1.3061, however, failure to move much lower increase risk to upside and threatens another test of the 100-DMA at $1.3109.
R 4: $1.3218/28/43 High May 2, High May 1
R 3: $1.3194 High May 8
R 2: $1.3133/38/51 Daily Bolli band top, 100-week MA
R 1: $1.3109/15/16/17 100-DMA, Apr 29, 22 highs
Latest price: $1.3055
S 1: $1.3020/26/38 5-DMA, 200-DMA
S 2: $1.2962-84 21-DMA, 55-DMA
S 3: $1.2934/36/37 High May 21, Low May 10
S 4: $1.2902/12 Jul 2012 Support line
GBP/USD: The cross follows dly studies higher to test res at $1.5378, the 61.8% $1.5606-1.5009 – but rebounded to end below the 100-DMA, now part of initial res at $1.5352. Weekly studies are a little stronger, but haven’t reversed yet, a break above initial res could flip sentiment to the upside but we don’t see cable bullish until it holds above the Jan 4 res line at $1.5424 – also the 38.2% $1.6381-1.4832. Failure here may see a return to test $1.5015 – the 76.4%.
R 4: $1.5507/45 Upper daily Bollinger band
R 3: $1.5465 76.4% of $1.5606-1.5009
R 2: $1.5404-24 Highs Apr 12, 11
R 1: $1.5352/68/76/78 100-DMA, Highs Apr 19
Latest price: $1.5310
S 1: $1.5308/10/14 May 10 low
S 2: $1.5280 55-DMA
S 3: $1.5237/40/42 21-DMA, 5-DMA
S 4: $1.5113/28 Low May 21
USD/JPY: The pair finally breaks below the daily Kijun line and tests the 38.2% of Y90.88-103.74 – now initial support at Y98.83, but rebounds a little higher to move back above the Jan 23 support line. Daily studies are still bearish but have entered oversold levels and are turning flat, bulls may now look to resume the bullish trend but first bulls need to break back above the key Y100.00 level. Initial res at Y99.90/95 – highs of Apr 22 and 11.
R 4: Y101.22/35/45 Daily Tenkan line, 21-DMA
R 3: Y100.71 23.6% of Y90.88-103.74
R 2: Y100.38 Daily Kijun line
R 1: Y99.90/95 Apr 22 high, Apr 11 high
Latest price: Y99.80
S 1: Y98.72/83/87/88 55-DMA, Low Jun 3, Daily Bolli base
S 2: Y98.45/49/58 High May 6, Low Apr 23
S 3: Y97.79 Aug 2009 high
S 4: Y97.31/35/36 Low Apr 29, Daily Ichimoku cloud top
EUR/JPY: The cross closed below the daily Kijun line but bulls are now edging higher and hold just below, the Kijun line seen at Y130.51 and current price action tests this level. Daily studies still slide but nears oversold levels, a break and close above initial res could turn sentiment to the upside. Further key res at Y131.12 to Y131.36, the Apr 11 high, May 15 low, dly Tenkan line and the 21-DMA. However, failure to close higher could se bears test the downside.
R 4: Y132.77/87 High May 14, High May 23
R 3: Y132.04/08 May 31 high
R 2: Y131.12/18/19/36 High Apr 11, Low May 15, Daily Tenkan line, 21-DMA
R 1: Y130.51 Daily Kijun line
Latest price: Y130.45
S 1: Y129.91/97 Highs Apr 25, May 2, Low May 23
S 2: Y129.51/66 Low Jun 3, Daily Bollinger band base
S 3: Y128.98 Low May 8
S 4: Y128.48/59 200-month MA, Apr 29 high