EUR/USD: The pair consolidates following the monster white candle on Thursday, the pair now trades back within the Bolli band. Daily studies suggest an upcoming reversal, however weekly and monthly studies are more-or-less bullish. Initial support at $1.3186, the 23.6% of move from $1.2797 to $1.3306, also below here is the 100-wk MA and 5-DMA at $1.3143/67. Bears may pullback toward the 38.2% levels at $1.3112 and $1.3115, also joined by the 100-DMA at $1.3104.
R 4: $1.3438 100-month MA
R 3: $1.3342 61.8% of $1.3711 to $1.2746
R 2: $1.3306/08 High Jun 6, Reversal high Dec 19
R 1: $1.3227/28/29 Daily Bolli band top, Hourly high
Latest price: $1.3190
S 1: $1.3143/67/86 100-week MA, 5-DMA
S 2: $1.3104/12/15 100-DMA
S 3: $1.3050/52 200-DMA
S 4: $1.2991/98/3004 High May 22, 55-DMA
GBP/USD: The cross also pares gains following the large move higher on the 6th of June. Daily studies also are losing their momentum in overbought territory and we may see the pullback deepen to the 38.2% of the recent move higher, seen at $1.5364 and part of a strong support level including the 100-DMA at $1.5336. Ahead of here, initial support at $1.5480/90, the 5-DMA and 23.6% of $1.4832-1.5694. Initial res at $1.5562, the upper daily Bollinger band.
R 4: $1.5705 200-DMA
R 3: $1.5684/86/89 High Jun 6, 55-week MA, High Feb 13
R 2: $1.5592/5606 Former channel base Mar 12, High May 1
R 1: $1.5562 Upper daily Bollinger band
Latest price: $1.5520
S 1: $1.5480/90 5-DMA
S 2: $1.5424 38.2% of $1.6381-1.4832
S 3: $1.5336/64/68/76 100-DMA, Highs Apr 19, Jun 3
S 4: $1.5306/14 55-DMA, May 10 low
USD/JPY: The pair makes a quick reversal to trade back above the daily Ichimoku cloud and within the daily Bollinger band after bouncing from strong supp around Y95.00. Dly studies now showing bullish signals but wkly studies in sell-mode. Initial res at Y98.45/49/58, the May 6 high, Apr 23 low and May 8 low. Above here res at Y98.76-95, Tenkan line, 38.2%, Jun 3 low and 55-DMA. Initial supp at Y97.31/32/45, the 50.0%, dly cloud top and dly Bolli base.
R 4: Y99.90/95 Highs Apr 22, Apr 11
R 3: Y99.36 Daily Kijun line
R 2: Y98.76/83/87/95 Tenkan line, Low Jun 3, 55-DMA
RES 1: Y98.45/49/58 High May 6, Low Apr 23, Low May 8
Latest price: Y98.30
S 1: Y97.31/32/45 Daily Ichimoku top, Dly Bolli base
S 2: Y96.43 100-DMA
S 3: Y95.79 61.8% of Y90.88-103.74
S 4: Y95.41 Ichimoku cloud base
EUR/JPY: The cross rebounded from the 100-DMA within the daily Ichimoku cloud to turn daily studies bullish, however weekly studies are now bearish. The long lower shadow should add risk to the upside and bulls already running into resistance, initial res at Y129.99, the daily Kijun line and hourly high. A break above here would target the 23.6% level at Y130.33 and then the 21-DMA at Y131.10. The 50.0% Fibonacci of Y169.96-Y94.12 is key at Y132.04.
R 4: Y132.04/08 May 31 high
R 3: Y131.10/12/18 21-DMA, High Apr 11, Low May 15
R 2: Y130.33/42 May 8 high
R 1: Y129.99 Daily Kijun line, Hourly high
Latest price: Y129.70
S 1: Y128.48/59 200-month MA, Apr 29 high
S 2: Y128.19 38.2% of Y119.11-133.80
S 3: Y127.49 Jun 6 low
S 4: Y126.93 Daily Ichimoku cloud top