EUR/USD continues to test the Jul 10 support line after bears bounced from it yesterday, it remains as key support now at $1.3453 and a break below likely targets the Sept 6 low at $1.3105. Bears look to retest here while daily studies slide, however bulls look to test initial resistance seen at $1.3524, the Nov 4 high. A break above here might see sentiment reverse, but failure here threatens the Jul support line again
R 4: $1.3630 21-day moving average
R 3: $1.3598 High Oct 14
R 2: $1.3554 Former 38.2% of $1.3105-1.3832
R 1: $1.3524 High Nov 4
Latest price: $1.3504
S 1: $1.3468/69 Hourly low, 50.0% of $1.3105-1.3832
S 2: $1.3452/53 Reversal high Aug 20, Support line Jul 10
S 3: $1.3442 Low Nov 4
S 4: $1.3395 Daily Bollinger band base
GBP/USD regains some territory to break above the 21-DMA once more which may cause some buy-signals in daily studies, a close higher could confirm. Initial resistance now at $1.6096/6102, hourly high and Sept 30 low, break above targets former Jul 9 channel base at $1.6190 then Oct 1 high at $1.6260. However, downside risk remains as weekly studies look a little overbought, failure to hold above 21-DMA could target a move below the $1.6000 level again.
R 4: $1.6254/60 Daily Bolli band top, High Oct 1
R 3: $1.6225 High Oct 18
R 2: $1.6190 Channel base Jul 3
R 1: $1.6096/6102 Hourly high, Low Sept 30
Latest price: $1.6082
S 1: $1.6013 5-day moving average
S 2: $1.5999 Low Oct 30
S 3: $1.5932/43 55-DMA, 38.2% of $1.5429-1.6260
S 4: $1.5919 23.6% of $1.4814-1.6260
USD/JPY still hanging around the daily Ichimoku cloud top despite bears testing below in last session. Daily studies still bullish but show signs of slowing while slow stochastic approaches overbought territory – bulls eye above the cloud and to the resistance line from May 22 – at Y99.04, but ahead of here initial res at Y98.85, highs of Nov 4 & 5. Monthly studies remain bearish and failure to break above initial res threatens the cloud base at Y98.21.
R 4: Y99.51 Monthly Ichimoku cloud top
R 3: Y99.36 High Sept 23
R 2: Y99.04/07 May res line, 61.8% of Y100.61-96.57
R 1: Y98.85 Highs Nov 1 & 4
Latest price: Y98.58
S 1: Y98.41/45 Hourly low, 55-DMA
S 2: Y98.21 Daily Ichimoku base
S 3: Y98.06/11 Low Oct 30, 38.2% of Y100.61-96.57
S 4: Y97.79/90 Daily Kijun, Daily Tenkan
EUR/JPY slipped above key level at Y133.33 despite bearish studies, which adds risk higher, bulls now look to regain this level and close above to regain ground above the daily Ichimoku cloud. However, daily studies slide and bears likely eye the Jun 13 support line at Y132.42. A break below could see bears continue the descent to daily cloud base at Y131.46 and then to Oct 8 low at Y131.15, however failure at Jun support line adds further upside risk.
R 4: Y134.95/99 High Sept 19, High Oct 29
R 3: Y134.38 Jan 2010 reversal high
R 2: Y133.92 Daily Tenkan line
R 1: Y133.80 May 22 reversal high
Latest price: Y133.16
S 1: Y132.42 Support line from Jun 13
S 2: Y132.18 76.4% of Y131.15-135.51
S 3: Y131.96 Daily Bollinger band base
S 4: Y131.46/48 Daily Ichimoku cloud base, 100-DMA
