EUR/USD: Remains Below Key 200-Day Moving Average At $1.2892. The pair remains below the key 200-day moving average at $1.2892 and also the 2-month channel top and the 21-day moving average, which is last valued at $1.2900/23. Focus remains on 1-month support line at $1.2684. Initial support is at $1.2781, which is the 76.4% of $1.2771 to $1.2878 and break below here favours move to $1.2751.
RES 4: $1.3047 High Mar 25
RES 3: $1.2965/67/78 Low Mar 6, Low Mar 1, 23.6% of $1.3711 to $1.2751
RES 2: $1.2900/23 Resistance line from Feb 1, 21-day moving average
RES 1: $1.2892 200-DMA, High Mar 26
Latest price: $1.2838
SUP 1: $1.2781 76.4% of $1.2771 to $1.2878
SUP 2: $1.2751 Recovery low Mar 27, Low Apr 1
SUP 3: $1.2684 Support line from 1 Mar
SUP 4: $1.2662/80 Nov 13 reversal low, 61.8% of $1.2043-1.3711
GBP/USD: Bearish Whilst $1.5969 June 2012 Low Caps. Tone remains heavy following failure to break above above June 1, 2012 low at $1.5269, which is now key resistance. Support is at $1.5050, the 50.0% of $1.4832-$1.5269 move. The daily stochastic study is bearish crossed with fast 10-day momentum threatening a break below the zero line, but as yet unconfirmed.
RES 4: $1.5321/28/33 High Feb 22, Low 22/23 Sept 2011
RES 3: $1.5301 Daily Bollinger band top
RES 2: $1.5269 High Mar 25, June 1 2012 low
RES 1: $1.5152 5-day moving average
Latest price: $1.5101
SUP 1: $1.5050 50.0% of $1.4832-$1.5269
SUP 2: $1.5027 Low Mar 20
SUP 3: $1.4982 High Mar 13
SUP 4: $1.4890 Daily Bollinger Band base
USD/JPY: Fibonacci Resistance & Channel Top At Y95.13/18. Impressive rally with price action breaking above the Tenkan & Ichimoku lines of the Ichimoku cloud and also the 21-day moving average at Y94.88. However, dollar remains engulfed in a falling 15-day channel range, where channel top comes in at Y95.18. Ahead of this, Y95.13 is 61.8% of Y96.71-Y92.57.
RES 4: Y96.71/86 Mar 12 high, Bollinger band top
RES 3: Y96.11/13 Mar 21 high, Mar 20 high
RES 2: Y95.73 76.4% of of Y96.71-Y92.57
RES 1: Y95.13/18 61.8% of Y96.71-Y92.57, Channel top from Mar 14
Latest price: Y94.99
SUP 1: Y93.76/78 Tenkan line of Ichimoku, 5-day moving average
SUP 2: Y92.21/24 Ichimoku cloud top, Channel base from Mar 14 high
SUP 3: Y92.09 23.6% of Y77.13-96.71
SUP 4: Y91.41 High Jan 30
EUR/JPY: Resistance At 21 & 55-DMA At Y122.64/89. Cross has nudged above the Ichimoku cloud top at Y122.48 and now approching Y122.64/89, the 21 & 55-day moving average. Given the daily studies are recovering from oversold, the risk of further short-squeeze remains towards channel top from Feb 6, which comes in at Y124.83.
RES 4: Y124.83 Channel top from Feb 6
RES 3: Y124.13/39/54 High Mar 19, Low Mar 12, 11
RES 2: Y123.81/86 Low Mar 8, High Jan 30
RES 1: Y122.64/89 21 & 55-day moving average
Latest price: Y122.15
SUP 1: Y121.87 High Mar 27
SUP 2: Y120.47 5-day moving average
SUP 3: Y119.11/17 Low Apr 3, Ichimoku cloud base
SUP 4: Y118.73 Low Feb 25
EasyForexNews Research Team