EUR/USD: Bearish Whilst Below 200-DMA At $1.2892. Impressive recovery off $1.2746 but whilst 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 and $1.2680, which is the 61.8% of the July 2012 to Jan 2013 rally.
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: $1.2878/92 High Apr 2, 200-DMA
Latest price: $1.2847
SUP 1: $1.2737/46 Daily Bollinger band base, Low 4 Apr
SUP 2: $1.2680/84 61.8% of $1.2043 to $1.3711, Support line from 1 Mar
SUP 3: $1.2662/80 Nov 13 reversal low, 61.8% of $1.2043-1.3711
SUP 4: $1.2590 2.00% MA envelope lower
GBP/USD: Focus Turns To $1.5206 Intra-Day Fibonacci Level. Focus turns to $1.5206, 76.4% of $1.5259 to $1.5034 move as bounce extends. However, the overall tone remains heavy following failure to break above above June 1, 2012 low at $1.5269. Support is at $1.5034 ahead of $1.4999 — the 61.8% 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: $1.5306 Daily Bollinger band top
RES 2: $1.5269 High Mar 25, June 1 2012 low
RES 1: $1.5206 76.4% of $1.5259 to $1.5034
Latest price: $1.5183
SUP 1: $1.5034 Low 4 Apr
SUP 2: $1.4999 61.8% of $1.4832-$1.5269
SUP 3: $1.5027 Low Mar 20
SUP 4: $1.4982 High Mar 13
USD/JPY: Bulls Remain In Control. Not much resistance until Y96.11/13, albeit weak, and nothing significant until Y96.71/97, where former is the March high and latter the daily Bollinger band top. On longer-term charts, the Aug 2009 reversal high at Y97.79 and Y98.19/25, which is the 38.2% of Y135.15 to Y75.35 and the 100-month moving average, are key upside levels.
RES 4: Y98.19/25 38.2% of Y135.15 to Y75.35, 100-month MA
RES 3: Y97.79 Aug 2009 reversal high
RES 2: Y96.71/97 Mar 12 high, Bollinger band top
RES 1: Y96.11/13 Mar 21 high, Mar 20 high
Latest price: Y95.95
SUP 1: Y94.93 21-day moving average
SUP 2: Y94.30/36 Tenkan & Kijun line of Ichimoku
SUP 3: Y92.21/24 Ichimoku cloud top, Channel base from Mar 14 high
SUP 4: Y92.09 23.6% of Y77.13-Y96.71
EUR/JPY: Eyeing Close Above Ichimoku Cloud Top. Close above Ichimoku cloud top at Y122.48 improves bullish picture following strong gains Thursday, with not much resistance noted until Y124.28/50, where the former is the 61.8% of Y127.71-Y118.73 move and latter the high on Mar 20. Focus is on Y124.83, which is value of falling channel top from Feb 6.
RES 4: Y126.04 High Mar 12
RES 3: Y125.59 76.4% of of Y127.71-Y118.73
RES 2: Y124.83 Channel top from Feb 6
RES 1: Y124.28/50 61.8% of Y127.71-Y118.73, High Mar 20
Latest price: Y123.71
SUP 1: Y122.48/57 Ichimoku cloud top, Kijun line of Ichimoku
SUP 2: Y121.87 High Mar 27
SUP 3: Y120.73 5-day moving average
SUP 4: Y119.11/17 Low Apr 3, Ichimoku cloud base
EasyForexNews Research Team