EUR/USD made another new high after bulls pushed up to test resistance around the $1.3700 level, failed to test the Jan reversal high at $1.3711 and has since turned lower as current price action slips back within the daily Bolli band. Weekly studies look overbought, failure to retest the $1.3711 level lends a heavier tone to eur-dol as daily studies may reverse lower. Key support seen around $1.3600 then $1.3563 – the 23.6% of $1.3105-1.3704
R 4: $1.3776 Monthly Bollinger band top
R 3: $1.3741 Weekly Bollinger band top
R 2: $1.3711 Reversal high Jan 2013
R 1: $1.3704 High Oct 18
Latest price: $1.3676
S 1: $1.3646 High Oct 3
S 2: $1.3619 5-day moving average
S 3: $1.3598 High Oct 14
S 4: $1.3558/63 21-DMA, 23.6% of $1.3105-1.3704
GBP/USD left a long upper shadow in the previous session which adds pressure lower – dly studies also weaker and wkly studies are overbought. Bulls may attempt a retest of channel top and Oct 1 high, at $1.6225 and $1.6260, respectively, however failure to retest could flip sentiment lower. Initial support at $1.6124, Oct 8 high and below here is Oct 7 high at $1.6100. Break below targets 23.6% and 21-DMA at $1.6064/74 and channel base is at $1.5998
R 4: $1.6260 High Oct 1
R 3: $1.6251 Daily Bollinger band top
R 2: $1.6225 High Oct 18 & Channel top from Jul 3
R 1: $1.6203 High Sept 30
Latest price: $1.6159
S 1: $1.6124 High Oct 8
S 2: $1.6100 High Oct 7
S 3: $1.6064/74 23.6% of $1.5429-1.6260, 21-DMA
S 4: $1.6002 High Oct 11
USD/JPY held above former 23.6% level on Friday – the low is new initial support at Y97.56. Current price action is testing initial resistance around Y98.12/16, the daily Kijun line and Oct 18 high. A break above targets 55-DMA at Y98.27, however studies are mostly bearish and failure here could see bears control to test Y97.19 200-DMA. The monthly chart shows bearish studies and failure at cloud top around Y100.00, further failure adds downside risk
R 4: Y98.67 Daily Ichimoku cloud base
R 3: Y98.40 100-day moving average
R 2: Y98.27 55-day moving average
R 1: Y98.12/16 Daily Kijun line, High Oct 18
Latest price: Y98.00
S 1: Y97.56 Low Oct 18
S 2: Y97.19 200-day moving average
S 3: Y96.75 Daily Bollinger band base
S 4: Y96.57 Low Oct 8
EUR/JPY attempting to break above Y134.05 the 76.4% of Y134.95-131.15 again after bulls failed to hold above on Friday. Daily studies are bullish and a close above Y134.05 could see bulls run up to the Sept 19 reversal high at Y134.95. However, daily studies also becoming overbought and failure at resistance again may flip sentiment lower, key support seen around Y133.05, the daily Kijun line and below here is the 21-DMA at Y132.89.
R 4: Y134.89/95 Weekly Bollinger band top, High Sept 19
R 3: Y134.46 Daily Bollinger band top
R 2: Y134.38 Jan 2010 reversal high
R 1: Y134.19 High Oct 18
Latest price: Y134.04
S 1: Y133.77/80 Hourly low, May 22 reversal high
S 2: Y133.05 Daily Kijun line
S 3: Y132.89 21-DMA
S 4: Y132.72 Daily Tenkan line
