EUR/USD
EUR/USD should clearly break below the 1.3420/95 support zone, which has come under pressure, and target the January low of 1.2860, with steps at 1.3245 and 1.3050.
EUR/JPY
The 103.90/104.05 resistance area should contain any corrective up-move before the EUR/JPY extends its MT downtrend to the June 2001 low of 99.85, with the lower end of the tentative declining channel, which comes at 101.85 today, as the main step.
USD/JPY
USD/JPY should eventually break below the mid-August low of 75.95 and target the lower end of the tentative declining channel, which comes at 73.35 this week (-0.30/week).
GBP/USD
We cannot rule out a corrective up move from the 1.5295/1.5385 support zone to 1.5630, or even to the 1.5780 pullback level, before the cross points back to at least 1.5295/1.5345.
Societe Generale
Research & Analytics