EUR/USD: The pair still holds above the former Feb 1 resistance line, now part of initial support, but the pair has failed to break above $1.3108, the high of June 3 and the 100-DMA. A break above here would confirm a change in sentiment, especially as tech studies continue to point higher. However, bears could force the pair back below to resume its recent bout of range-trading. Initial support at $1.3040/57/60, the 200-DMA, former Feb 1 Res line and 5-DMA.
R 4: $1.3218/28/43 High May 2, High May 1
R 3: $1.3194 High May 8
R 2: $1.3138/51 Daily Bollinger band top, 100-week MA
R 1: $1.3108/15/16/17 100-DMA, Apr 29, 22 highs
Latest price: $1.3085
S 1: $1.3040/57/60 200-DMA, 5-DMA
S 2: $1.3020 50.0% of $1.3243-1.2797
S 3: $1.2963-87 21-DMA, 55-DMA
S 4: $1.2934/36/37 High May 21, Low May 10
GBP/USD: The cross appears to have stalled just below the 100-DMA, initial res at $1.5345 – just above the Jun 4 high at $1.5343. Dly studies continue to point higher, but near overbought levels now, wkly studies still look a little stronger. Bulls aim to break above initial res and close above $1.5378 – the 61.8% of $1.5606-1.5009 – if they wish to resume a bullish trend. Bears aim to close below initial supp at $1.5274/77/84, the Jun 4 low, 5-DMA and 55-DMA.
R 4: $1.5465 76.4% of $1.5606-1.5009
R 3: $1.5404-24 Highs Apr 12, 11
R 2: $1.5368/76/78 Highs Apr 19, Jun 3
R 1: $1.5343/45 High Jun 4, 100-DMA
Latest price: $1.5325
S 1: $1.5274/77/84 Low Jun 4, 5-DMA, 55-DMA
S 2: $1.5232/37 21-DMA
S 3: $1.5113/28 Low May 21
S 4: $1.5014/15 Low May 23
USD/JPY: The pair still holding below the daily Kijun line while daily studies continue to slide, albeit now looking more oversold. Initial resistance at Y100.38, the daily Kijun, with further res seen at Y100.71/73, the 23.6% of Y90.88-103.74 and the daily Tenkan line. Failure to break above initial res could see bears test the 38.2% level at Y98.83, ahead of here support seen at Y99.06, the daily Bollinger band base.
R 4: Y102.76/89 Highs May 15, 21
R 3: Y101.40/45 21-DMA
R 2: Y100.71/73 Daily Tenkan line
R 1: Y100.38 Daily Kijun line
Latest price: Y99.60
S 1: Y99.06 Daily Bollinger band base
S 2: Y98.79/83/87 55-DMA, Low Jun 3
S 3: Y98.45/49/58 High May 6, Low Apr 23, Low May 8
S 4: Y97.79 Aug 2009 high
EUR/JPY: The cross still below the daily Tenkan line but also moves below the dly Kijun line now while dly studies continue to decline, however initial supp now at Y129.91/92/97, the highs of Apr 25 & May 2, the dly Bolli base and May 23 low. Initial res seen as the 21-DMA at Y131.43, which bulls already tested today. The pair has been relatively range-bound since May 27 but continued failure to the downside will likely encourage bulls to resume the upwards trend.
R 4: Y133.80 Reversal high May 22
R 3: Y132.77/87/94 High May 14, 23, Daily Bollinger band top
R 2: Y132.04/08 May 31 high
R 1: Y131.43 21-DMA
Latest price: Y130.20
S 1: Y129.91/92/97 Highs Apr 25, May 2, Daily Bollinger band base
S 2: Y129.51 Low Jun 3
S 3: Y128.98 Low May 8
S 4: Y128.48/59 200-month MA, Apr 29 high