EUR/USD: The pair so far is managing to hold above the former 61.8% of $1.3711-1.2746 – initial support at $1.3342, despite the overbought daily studies. The last two sessions show fairly long lower shadows which means pressure to the upside remains, weekly and monthly studies are also bullish and initial res now at $1.3390 – the Jun 13 high. Further res at $1.3429, the daily Bolli top, but key res just above $1.3450, the May 2011 res line and 200-wk MA.
R 4: $1.3483 55-month MA & 76.4% of $1.3711 to $1.2746
R 3: $1.3454/58 Resistance line from May 2011, 200-week MA
R 2: $1.3428/39 Daily Bollinger band top, 100-month MA
R 1: $1.3390 High Jun 13
Latest price: $1.3345
S 1: $1.3342/47 61.8% of $1.3711 to $1.2746, Hourly low
S 2: $1.3317/18/26 Former 23.6% of $1.2043-1.3711, High Jun 11, 5-DMA
S 3: $1.3279 Low Jun 13
S 4: $1.3228/35 Former 50.0% of $1.3711-1.2743, 23.6% of $1.2797-1.3370
GBP/USD: The cross closed above the 200-DMA yesterday but bears are already breaking below today, initial support now at $1.5640/63, the Mar 12 channel base and the 5-DMA. A break below initial supp could accelerate losses as daily studies are overbought, but weekly studies are bullish and monthly studies are beginning to show buy-signals. Bulls will be looking to move back above the 200-DMA to test resistance, key res at $1.5730 and $1.5790 to $1.5800.
R 4: $1.5879 Reversal high Feb 1
R 3: $1.5845/58 High Feb 8, Weekly Bollinger band top
R 2: $1.5789-5805 61.8% $1.638-1.483, 200-wk MA, Channel Mid, Daily Bolli top
R 1: $1.5732/38 55-month MA, High Jun 13
Latest price: $1.5700
S 1: $1.5640/63 Channel base from Mar 12, 5-DMA
S 2: $1.5606 50.0% of $1.6381-1.4832
S 3: $1.5489/96 Low Jun 7, 23.6% of $1.4832-1.5701
S 4: $1.5424 38.2% of $1.6381-1.4832
USD/JPY: The pair holds within the daily Bollinger band after bouncing from support yesterday, seen as the 76.4% of Y90.88-103.74. Today’s session also met resistance from the former 61.8% at Y95.79 – we await to see if bulls or bears prevail today but weekly studies are bearish and monthly studies are likely to show sell-signals. Initial support at Y94.46/62 – Feb 11 high and dly Bolli base. Key support seen around Y94.00 – the 76.4% level.
R 4: Y97.31 50.0% of Y90.88-103.74
R 3: Y97.00/01/02/13 Ichimoku cloud base, Low Apr 30, Low May 1, Daily Tenkan
R 2: Y96.67 100-DMA
R 1: Y95.79/81 61.8% of Y90.88-103.74, Hourly high
Latest price: Y95.05
S 1: Y94.46/62 High Feb 11, Daily Bollinger band base
S 2: Y93.91/99 76.4% of Y90.88-103.74, former 38.2% of Y75.35-124.14
S 3: Y93.53/57/68 Mar 25 low, 38.2% of Y77.13-103.74, Weekly Kijun
S 4: Y92.57 Reversal low Apr 2
EUR/JPY: The cross leaves a long lower shadow yesterday, bouncing from support around Y125.00 and continues to track lower today as weekly studies slide. Monthly studies look set to tumble also and initial support now at just above Y126.00, the Mar 12 reversal high, Jun 7 reversal low and the hourly low. Further support at Y125.68, daily Ichimoku cloud base and below here is yesterday’s low at Y124.97 and the 61.8% at Y124.72.
R 4: Y129.82/91/97 Highs Apr 25 & May 2, Low May 23
R 3: Y129.18/37/39 55-DMA, Weekly Tenkan line, Daily Kijun line
R 2: Y128.46/59 200-month MA, Apr 29 high
R 1: Y128.12/19 Hourly high, 38.2% of Y119.11-133.80 & Daily Tenkan line
Latest price: Y126.95
S 1: Y126.04/18/23 Reversal high Mar 12, Jun 7 reversal low, Hourly low
S 2: Y125.68 Daily Ichimoku cloud base
S 3: Y124.72/97 61.8% of Y119.11-133.80, Low Jun 13
S 4: Y124.44/50 23.6% of Y94.12-133.80, Reversal High Mar 20