EUR/USD leaves a spinning-top after pushing up to close above $1.3300 after testing support at $1.3206 however has moved back below $1.3300 today. Daily studies are still turning bearish and daily slow stochastic is showing a sell-signal in overbought territory, a close below initial suppt would confirm, seen at $1.3200/06/07.
R 4: $1.3409/16/17/24 200-month MA, Highs Jun 18, 19, Daily Bollinger band top
R 3: $1.3390 High Jun 13
R 2: $1.3342/45 High Jul 31
R 1: $1.3318/19/24 High Jun 11, Low Jun 17, Resistance line from Feb 2013
Latest price: $1.3272
S 1: $1.3200/06/07 High Apr 17, High Jul 11
S 2: $1.3164/74 61.8% of $1.3417-1.2755, High Jul 16
S 3: $1.3100-20 Hgh Jul 12 & 55-DMA
S 4: $1.3032/34/54 Jul 3 high, 100-DMA
GBP/USD continues to track lower in tandem with dly studies, however yesterday saw bears bounce from the 50% of $1.4814-1.5435, initial suppt at $1.5124. Break below would accelerate losses to next suppt around $1.5028-51, Jul 15 low, former 23.6% and a 61.8% level. However, yesterday’s candle shows a decent lower shadow which may mean upside pressure is returning. Initial suppt may prove key and bulls look to test initial res at $1.5254.
R 4: $1.5384/92/94 Highs Jul 22, 23
R 3: $1.5363/68 Jun 21 low, High Apr 19
R 2: $1.5283/90/95 55-DMA , 100-DMA
R 1: $1.5254 High Jul 31
Latest price: $1.5155
S 1: $1.5124/26/32 Low Jul 31, High Jul 15
S 2: $1.5028/35/51 Low Jul 15
S 3: $1.4999/5009 Low Jul 11, May 29
S 4: $1.4921/22/43 Weekly, Monthly Bolli band bases
USD/JPY still hanging around in the daily Ichimoku cloud between initial suppt at Y97.55/66 and initial res at Y98.52. Daily studies continue to slide and monthly studies are looking overbought, a break below or above initial suppt/res would spark a quick move to the next level. We can see bulls looking to test the May resistance line again, now at Y100.32, but studies still look a bit weak.
R 4: Y99.94/100.32 Resistance line from May 22
R 3: Y99.52/55/70 21-DMA, Daily Kijun line
R 2: Y99.04/08/16/20 Lows Jul 17, 15, Daily Tenkan line, 55-DMA
R 1: Y98.52-76 100-DMA, Daily Ichimoku top
Latest price: Y98.31
S 1: Y97.55/66/79 Daily Ichimoku cloud base, Aug 2009 high
S 2: Y96.75/87 Jun 21 low
S 3: Y95.62/77 High Jun 18
S 4: Y94.99/95.22 May 2010 reversal high & Jun 7 reversal low, Jun 17 high
EUR/JPY still stuck above the dly Kijun but bulls also testing initial res at Y131.04/12/23. A break above here would then test the 100-mth MA at Y131.58. However, bears also testing suppt and dly studies do trend lower – albeit slower than before, initial suppt around Y129.70-93 – Jun 21 high, dly Kijun and 55-DMA.
R 4: Y133.80 Reversal high May 22
R 3: Y132.40 Daily Bollinger band top
R 2: Y131.58 100-Month MA
R 1: Y131.04/12/23 Daily Tenkan line, High Apr 11 & Jul 2, Rising channel base
Latest price: Y130.50
S 1: Y129.70/90/93 High Jun 21, Daily Kijun line, 55-DMA
S 2: Y129.39 Daily Ichimoku cloud top
S 3: Y128.93/98 High May 1, Low May 8
S 4: Y128.31/33/45 200-month MA, Daily Ichimoku cloud base, High Jun 26