EUR/USD continues to slide and now trades below the daily Bolli band base, daily studies remain bearish but now near oversold and bulls may push to close back within the Bolli band and above the $1.3600 level. However, bears have closed in on the July support line which is now at $1.3557 and a close below here could accelerate losses. Key support below is the 61.8% at $1.3524 and further below is the 200-DMA at $1.3321.
R 4: $1.3733 Former Nov 7 support line
R 3: $1.3707/13 Low Dec 13, 21-DMA
R 2: $1.3670 5-day moving average
R 1: $1.3628/30 55-DMA, Low Jan 2
Latest price: $1.3573
S 1: $1.3557 Support line from Jul 9
S 2: $1.3524/39 61.8% of $1.3296-1.3893, 100-DMA
S 3: $1.3462 Low Sept 25
S 4: $1.3437 76.4% of $1.3296-1.3893
GBP/USD continues to slide toward the July support line which is now part of initial support at $1.6306, just below the 38.2% of $1.5855-1.6603 at $1.6317. A break below could see further losses while daily studies slide and weekly/monthly studies look overbought. Further support is around $1.6240 from the daily Bolli base and 55-DMA, but ahead of here is the key former monthly resistance line at $1.6273, a close below suggests further downside risk.
R 4: $1.6603 High Jan 2
R 3: $1.6556 Daily Bollinger band top
R 2: $1.6471/84 5-DMA, High Dec 18
R 1: $1.6426 Hourly high & 23.6% of $1.5855-1.6603
Latest price: $1.6356
S 1: $1.6306/17 July Support line, 38.2% of $1.5855-1.6603
S 2: $1.6273 Former Monthly Triangle Top
S 3: $1.6242/48 Daily Bolli base, 55-DMA
S 4: $1.6220/29 Low Dec 17, 50.0% of $1.5855-1.6603
USD/JPY descends again to support just above the Y104.00 level, the Jan 3 low and 21-DMA are initial support at Y104.08/09, respectively. Daily studies are reversing lower and a break below Y104.00 level targets the daily Kijun line and 23.6% of Y97.62-105.44 at Y103.54/59 and just above is the May 2012 high at Y103.74 which should also provide support. However, another failed test of initial support could see bulls return to retest Jan 2 high at Y105.44.
R 4: Y106.18 Resistance line from August 1998
R 3: Y105.86 Daily Bollinger band top
R 2: Y105.44/50 High Jan 2, 61.8% of Y124.14-Y75.35
R 1: Y104.95/98 Hourly high, Low Dec 30
Latest price: Y104.33
S 1: Y104.08/09 Low Jan 3, 21-DMA
S 2: Y103.54/59 Daily Kijun line, 23.6% of Y97.62-105.44
S 3: Y102.95 High Dec 12
S 4: Y102.45 38.2% of Y97.62-105.43
EUR/JPY now slips below the daily Kijun line and sends daily studies much lower which weekly studies also begin to look bearish, weekly slow stochastic shows a sell-signal in overbought territory adding further downside pressure. Key support now seen just below the Y141.00 level – the Dec 17 low and 61.8% of Y169.96-94.12 are at Y140.98/99. Break below here then targets the daily Bolli base at Y140.41, just above the 38.2% of Y131.22-145.69 at Y140.16.
R 4: Y144.42 Low Jan 1
R 3: Y143.60 Daily Tenkan line
R 2: Y143.32 High Jan 3
R 1: Y142.73 21-day moving average
Latest price: Y141.71
S 1: Y141.42/50 Low Dec 13, Hourly low
S 2: Y140.98/99 Low Dec 17, 61.8% of Y169.96-94.12
S 3: Y140.41 Daily Bollinger band base
S 4: Y140.16/20 38.2% of Y131.22-145.69, Oct 2005 high
