EUR/USD bounced from around the 200-DMA, still part of initial support at $1.3080 and closed above 50% level at $1.3086. Daily studies continue to rise, wkly studies appear bullish but mthly studies slide. Bulls already moving higher and look to test initial res at $1.3164/74. A break above here would then target the Jul 11 reversal high at $1.3207 and potentially targets a long-term resistance line at $1.3387
R 4: $1.3261/79 Low Jun 13
R 3: $1.3228/31/43 Daily Bolli top, Reversal high May 1
R 2: $1.3200/07 High Apr 17, High Jul 11
R 1: $1.3164/74 High Jul 16
Latest price: $1.3134
S 1: $1.3080/83/86 200-DMA, Low Jul 17
S 2: $1.3060 55-DMA
S 3: $1.3027/32/33/34 21-DMA, Jul 3 high, 100-DMA
S 4: $1.2985/94/98/3008 Lows Jun 26, Jul 15, High May 22
GBP/USD followed spinning-top with inside-day candle that closed a little higher but failed to test initial res. Daily studies firmly bullish and we may see bulls test initial res at $1.5267/68/73. A break above here runs into the 50% level and 55-DMA at $1.5283 and $1.5301, respectively. However, the inside-day cautions bulls and mthly studies slide, initial supp around $1.5169-86
R 4: $1.5363/94 Jun 21 low, 61.8% of $1.5752-1.4814
R 3: $1.5301 55-DMA
R 2: $1.5283 50.0% of $1.5752-1.4814
R 1: $1.5267/68/73 100-DMA, High Jul 17, Former support line from May 29 low
Latest price: $1.5230
S 1: $1.5169/72/78/86 High Jul 16, 21-DMA, 5-DMA
S 2: $1.5028/35/79 Low Jul 15, Low Jul 17
S 3: $1.4990/99/5009/18 Mthly Bolli base, Lows Jul 11, May 29, High Jul 10
S 4: $1.4943/66 High Mar 11, High Jul 8
USD/JPY now fades from the May 22 res line, initial res which was already tested at Y100.87/93, the hourly high and May 22 res line. Current price action now trades lower and has tested initial support around Y99.70/79/81. Daily studies may be reversing higher but mthly studies are overbought. A break above initial res would target a test of the Jul 8 high at Y101.53, but failure at initial res could send studies lower
R 4: Y102.22/50/53 Monthly Bollinger band top, Highs May 28, 29
R 3: Y101.97/102.08 Lows May 20, 21
R 2: Y101.39-65 high Apr 2009, High Jul 8, Dly Bolli top
R 1: Y100.87/93 Hourly high, Resistance line from May 22
Latest price: Y100.02
S 1: Y99.70/79/81 Daily Tenkan, Hourly low
S 2: Y99.48/54 21-DMA, 55-DMA
S 3: Y99.04/08 Lows Jul 17, 15
S 4: Y98.76 Weekly Tenkan
EUR/JPY continues to test the dly Bolli top as res but today fades from hourly high at Y132.10. Studies mainly bullish but dly/mthly are overbought, initial res just below the hourly high at Y132.04/08 . Above here res is thin until the May 22 reversal high at Y133.80. However, failure to topside could reverse sentiment and retest initial supp at Y131.12.
R 4: Y133.67/80 Rising channel top, Reversal high May 22
R 3: Y132.77/87 High May 14, High May 23
R 2: Y132.40 High May 13
R 1: Y132.04/08/10 May 31 high, Hourly high
Latest price: Y131.36
S 1: Y131.12 High Apr 11 & Jul 2
S 2: Y130.33 23.6% of Y119.11-133.80
S 3: Y129.70/96/97/130.06 High Jun 21, 55-DMA, Low May 23, Daily Tenkan line
S 4: Y129.39/58/62 Weekly Tenkan line, 21-DMA, Rising channel base