EUR/USD: Holds Above $1.3000 Despite Bearish Daily Studies. The pair holds above $1.3000 despite the bearish dly studies, 10-day mom in a bearish trend but firmed a touch from sharply down. Wkly studies still bullish and initial res at $1.3115/17, the 38.2% $1.2746-1.3711 and hourly low. Further res from 100-DMA at $1.3157. Eur-dol bullish while above 5-wk MA, at $1.3010, further supp alongside Apr 17 low at $1.3002. Initial supp at $1.3037/39/40/44, the Apr 12 low, hourly low, Apr 5 high and Apr 11 low.
RES 4: $1.3227/35 50.0% of $1.3711 to $1.2743, 100-week MA
RES 3: $1.3200/02/08 Apr 17 high, Apr 16 high, Daily Bollinger top
RES 2: $1.3150/57 Former 38.2% $1.4940-1.2043, 100-DMA
RES 1: $1.3115/17 38.2% of $1.3711-1.2743, Hourly high
Latest price: $1.3073
SUP 1: $1.3037/39/40/44 Low Apr 12, Hourly low, High Apr 5, Low Apr 11
SUP 2: $1.3021/22 Low Apr 18, Low Apr 15
SUP 3: $1.3002/10 Low Apr 17, 5-week MA
SUP 4: $1.2965/67/70/74 Low Mar 6, Low Mar 1, 21-DMA, 23.6% of $1.3711-1.2746
GBP/USD: Mar 12 Support Line At $1.5177. The cross left a long upper shadow, despite the bullish weekly studies, and the pair now closing in on the support line from Mar 12 low, further support at $1.5177. Ahead of here, support at $1.5198/5204, these being the 23.6% of $1.6381-1.4832 and the hourly low. However, a bounce from these levels would encourage bulls to test res, initial res at $1.5267, the 5-DMA and 5-week MA. Above here, strong res at $1.5368/73/79, highs of Apr 19, 17 and 16.
RES 4: $1.5485 Reversal low 28 Jun 2012
RES 3: $1.5404/10/12/24 Upper dly Bolli, Highs Apr 12, 11, 38.2% $1.6381-1.4832
RES 2: $1.5368/73/79 Highs Apr 19, 17 and 16
RES 1: $1.5267 5-day moving average, 5-week MA
Latest price: $1.5226
SUP 1: $1.5198/5204 23.6% of $1.6381-1.4832, Hourly low
SUP 2: $1.5177 Support line from Mar 12 low
SUP 3: $1.5086 Lower daily Bollinger band
SUP 4: $1.5027/34 Low Mar 20, Low Apr 4
USD/JPY: Bulls Look To Break Apr 11 High – Y99.95. USD/JPY leaves a long white candle, despite the negative divergence on 10-day momentum. Price action today trying to break above the Apr 11 high at Y99.95, just below the Feb 11 res line at Y99.96, initial key resistance. A break above would target moves Y100.19/69, the monthly Ichimoku cloud top and 3.00% MA envelope top. The long lower-shadow on the weekly chart should encourage bulls and the monthly chart points higher.
RES 4: Y102.11 Upper weekly Bolli band
RES 3: Y101.45/52 Reversal high Apr 2009, Upper dly Bolli band
RES 2: Y100.19/69 Monthly Ichimoku cloud top, 3.00% MA envelope top
RES 1: Y99.95/96 Apr 11 high, Feb 11 res line
Latest price: Y99.63
SUP 1: Y98.73 1.00% upper MA envelope
SUP 2: Y98.19/21 38.2% Y135.15-75.35, 23.6% of Y92.57-99.95
SUP 3: Y97.63/88 Apr 18 low, Tenkan line
SUP 4: Y97.13/33 38.2% of Y92.57-99.95, Support line from Apr 4
EUR/JPY: Bulls Eye Apr 11 High At Y131.12. The pair held above the Tenkan line to surge higher, bulls now looking to the Apr 11 high at Y131.12, further res alongside the 3.00% MA envelope top at Y131.18. Ahead of here, initial res at Y130.70, the hourly high. However, 10-day momentum shows massive negative divergence and approaches key zero-line, a break below the zero-line may help bears test support. Initial supp at Y129.90, the 2.00% MA envelope top. Further supp at Y129.74, the Apr 17 high
RES 4: Y132.45 4.00% MA envelope top
RES 3: Y131.87/132.04 100-month MA, 50.0% of Y169.96-Y94.12
RES 2: Y131.12/18 Apr 11 high, 3.00% MA envelope top
RES 1: Y130.70 Hourly high
Latest price: Y130.22
SUP 1: Y129.90 2.00% MA envelope top
SUP 2: Y129.74 High Apr 17
SUP 3: Y128.03/06 Tenkan line, Apr 19 low
SUP 4: Y127.83 Apr 4 support line
EasyForexNews Research Team