EUR/USD left a potential dragon-fly doji after a break below key MA support but closing above. However, daily studies remain bearish and a retest of supp is likely, failure to break and close below could turn sentiment around and prompt bulls to test res. Initial res at $1.3161-82 the Jun 20 low, 5-DMA, 38.2% and the 21-DMA. But after the last three bearish sessions this may just be a little consolidation. Initial supp at $1.3107, the 50.0% level.
R 4: $1.3306/08 High Jun 6, Reversal high Dec 19
R 3: $1.3271/79/95 Lows Jun 13, 14
R 2: $1.3200 High Apr 17
R 1: $1.3161/74/80/82 Low Jun 20, 5-DMA, 21-DMA
Latest price: $1.3110
S 1: $1.3107 50.0% of $1.2797-1.3417
S 2: $1.3074/81/82 200-DMA, 55-DMA, 100-DMA
S 3: $1.3034 61.8% of $1.2797-1.3417
S 4: $1.2998 High May 22
GBP/USD failed to close below the 55-DMA, still supp at $1.5381, and ended higher after testing the former 38.2% level as res around $1.5468, still part of initial res above the 5 and 21-DMAs at $1.5457/65. Daily studies remain bearish but wkly studies still rise, a break and close above initial res could turn sentiment higher, next res at $1.5531/35, the Jun 21 high and former 23.6%. A new supp line from May 29 also caps the downside at $1.5363.
R 4: $1.5606/16 50.0% of $1.6381-1.4832, Low Jun 14
R 3: $1.5566/77 Low Jun 18, 23.6% of $1.5009-1.5752
R 2: $1.5531/35 High Jun 21, 23.6% of $1.4832-1.5752
R 1: $1.5457/65/68/89 5-DMA, 21-DMA, Low Jun 7
Latest price: $1.5439
S 1: $1.5401/15/24 38.2% $1.4832-1.5752, Low Jun 20
S 2: $1.5380/81 50.0% of $1.5009-1.5752, 55-DMA
S 3: $1.5363/68 New Support line from May 29, Jun 21 low
S 4: $1.5314/15/30 May 10 low, 100-DMA, 21-week MA
USD/JPY failed to break above the daily Kijun line, further res at Y98.76, and closed below the Ichimoku cloud. Bears now testing the 50.0% of Y90.88-103.74, support at Y97.31 and already broke below, focus now on initial support at Y96.87/91.00, Jun 21 low and 100-DMA. A close below here could turn sentiment around but daily studies are still bullish, initial res is at Y97.79, the Aug 2009 high, 21-DMA and the daily Ichimoku cloud base.
R 4: Y99.90/94/95 High Apr 22, 61.8% of Y103.74-93.79, High Apr 11
R 3: Y99.12/28 55-DMA, High Jun 10
R 2: Y98.76-87 Weekly Tenkan/Daily Kijun/50%, Low Jun 3
R 1: Y97.79/86/94 Aug 2009 high, 21-DMA, Ichimoku cloud base
Latest price: Y97.40
S 1: Y96.87/97.00 Jun 21 low, 100-DMA
S 2: Y95.77/79/81 High Jun 18, 61.8% of Y90.88-103.74, High Jun 14
S 3: Y94.71/99/95.22 Weekly Kijun, Jun 7 low, Jun 17 high
S 4: Y93.91/99 76.4% of Y90.88-103.74, former 38.2% of Y75.35-124.14
EUR/JPY tracks lower within daily Ichimoku cloud and holds above daily Tenkan line, initial supp at 127.44. Break below here would threaten the 100-DMA at Y126.86, then 50% level at Y126.46 and then daily Ichimoku cloud base at Y125.94. However, failure at initial supp could see bulls return to attempt a retest of the daily cloud top at Y130.02. Daily studies rise but 10-day momentum study fails to break above the zero-line which could be a bearish indicator.
R 4: Y129.82/97/130.02 Highs Apr 25 & May 2, Low May 23, Daily Ichimoku top
R 3: Y129.63/70 55-DMA, High Jun 21
R 2: Y129.39 Weekly Tenkan line & Daily Kijun line
R 1: Y128.47/59/95 200-month MA, Apr 29 high, Hourly high, 21-DMA
Latest price: Y127.75
S 1: Y127.44/49 Daily Tenkan line, Jun 6 low
S 2: Y126.86/96/127.00/06 100-DMA, High Jun 17, 21-week MA, Apr 29 low
S 3: Y125.94/126.04/18 Daily Ichimoku base, Reversal high Mar 12, Jun 7 low
S 4: Y125.57/67 Jun 17 low, Daily Bollinger band base