EUR/USD: The pair again declines from the Feb 1 res line and dly Bolli top to sink through support, bears met supp at the 55-DMA, now key initial supp just above May 9 low at $1.3011/13. Dly studies turning lower, but wkly studies still bullish, a break below 55-DMA would see bears test 200-DMA at $1.2993. However, failure to break below 55-DMA could see bulls return to retest Feb 1 res line at $1.3191, but ahead of here key initial res at $1.3076/79, the 21 & 5-DMAs.
R 4: $1.3218 High May 2
R 3: $1.3185 Daily Bollinger top
R 2: $1.3115 Apr 29, 22 highs
R 1: $1.3076/79 21-DMA, 5-DMA
Latest price: $1.3040
S 1: $1.3011/13 Low May 9, 55-DMA
S 2: $1.2989/93 Low Apr 25, 200-DMA
S 3: $1.2967/74 Daily Bollinger band base
S 4: $1.2945/55 1.00% MA envelope base, Low Apr 24
GBP/USD: The cross fades from 50.0% level once again, this time extending losses to test support around former 38.2% at $1.5424 – initial support alongside the May 9 low at $1.5426. Dly studies sharply lower and expect bears to test initial support, a break below would target the 21-DMA at $1.5409 followed by channel base and Apr 19 high at $1.5343/68. Bulls may look to regain territory above 5-DMA and 100-DMA, however, further failure may turn sentiment to the downside.
R 4: $1.5647/73 Daily Bollinger band top
R 3: $1.5606 50.0% of $1.6381-1.4832
R 2: $1.5508/13 100-DMA
R 1: $1.5485/91 Low May 3, 5-DMA
Latest price: $1.5440
S 1: $1.5424/26 Low May 9
S 2: $1.5409/10/12 21-DMA, Highs Apr 12, 11
S 3: $1.5343/68 High Apr 19
S 4: $1.5241 Lower daily Bollinger band
USD/JPY: Dollar rushes higher, breaking and closing above the significant Y100.00 level for the first time in four years – sending dly studies sharply higher. Focus on initial res at Y101.45/50, the reversal high Apr 2009 and Feb 11 res line, strong selling is expected here. Mthly studies bullish but looking more overbought, failure to sustain rally above Y100.00 could reverse sentiment. Initial supp at Y100.54, hourly low, but key supp around SUP 2 – Y99.90/92/95.
R 4: Y105.50 61.8% Fibonacci of Y124.14 to Y75.35
R 3: Y102.47 Upper weekly Bolli band
R 2: Y101.90 3.00% MA envelope top
R 1: Y101.45/50 Feb 11 res line
Latest price: Y100.90
S 1: Y100.54 Hourly low
S 2: Y99.90/92/95 Apr 11, 22 high
S 3: Y99.45 High May 6
S 4: Y99.10 Daily Tenkan line
EUR/JPY: The pair now testing upper limits of the dly Bolli band and now the highest it has been in a little over three years. Monthly and daily studies rise further into overbought levels, next res at Y131.82/94/132.04 the 100-mth MA, 2% MA env top and 50% Y169.96-Y94.12. Bulls aim above here to test the Feb 6 res line at Y132.68, however, failure to break above res encourages bears to retest former res, initial supp at Y130.65/70, the 1% MA env top and Apr 22 high.
R 4: Y133.89 Weekly Bollinger band top
R 3: Y133.23 3.00% MA envelope top
R 2: Y132.68 Feb 6 resistance line
R 1: Y131.82/94/132.04 100-mth MA
Latest price: Y131.65
S 1: Y130.65/70 Apr 22 high
S 2: Y130.42 May 8 high
S 3: Y129.56 Daily Tenkan line
S 4: Y129.04 21-day moving average