EUR/USD now testing the large moving average support area as res around $1.3074/78 – the 200-DMA and 55-DMA as the pair has already broken above the 100-DMA. Daily studies may reverse higher and a break above initial res would spur bulls, however, weekly and monthly studies look a little weak. Bears look to hold below initial res and look to decline to the Jul 2012 supp line at $1.2905. Ahead of here, initial sup at $1.2985/98, the Jun 26 low and May 22 high.
R 4: $1.3243 Reversal high May 1
R 3: $1.3161/80/93 Low Jun 20, 38.2% of $1.2797-1.3417, 21-DMA
R 2: $1.3107/20 50.0% of $1.2797-1.3417,
R 1: $1.3074/78 200-DMA, 55-DMA
Latest price: $1.3060
S 1: $1.2985/98 Low Jun 26, High May 22
S 2: $1.2927/35/43 55-wk MA, Daily Bolli band base
S 3: $1.2905 Jul 2012 Support line
S 4: $1.2877 50.0% of $1.2043-1.3711
GBP/USD continues to decline and closed below the former Jan 2 resistance line to test support around $1.5183/84 – the 61.8% and 76.4% levels. Ahead of here, initial support seen as yesterday’s low at $1.5202. Daily studies are bearish but becoming oversold, monthly studies still slide and weekly studies are reversing lower. Further support at $1.5156/59, the May 27 high and daily Bolli band base. Initial res is at $1.5302, the 100-DMA.
R 4: $1.5468/85/89 38.2% of $1.5009-1.5752, 21-DMA, Low Jun 7
R 3: $1.5401/18 38.2% of $1.4832-1.5752, Former Support line May 29
R 2: $1.5377/80 55-DMA, 50.0% of $1.5009-1.5752
R 1: $1.5302/14/21 100-DMA, May 10 low, 21-week MA
Latest news: $1.5265
S 1: $1.5202 Low Jun 27
S 2: $1.5183/84 61.8% of $1.4832-1.5752
S 3: $1.5156/59 High May 27, Daily Bollinger band base
S 4: $1.5049/55 Monthly Bollinger band base
USD/JPY squeezes back into the daily Ichimoku cloud after several attempts and now tests the 55-DMA as initial res, seen at Y99.08. Daily studies are bullish but almost becoming overbought, further res is around Y99.94, the 61.8% of Y103.74-98.79. However, monthly studies are overbought and show the potential for a sell-signal, failure in the daily cloud could turn sentiment to the downside. Initial support around the cloud base at Y98.15.
R 4: Y101.29/39 Daily Ichimoku cloud top
R 3: Y100.71/79/83 Former 23.6% of Y90.88-103.74, May 9 high, May 23 low
R 2: Y99.90/94/95 High Apr 22, High Apr 11
R 1: Y99.02/08/28 Hourly high, 55-DMA, High Jun 10
Latest price: Y98.80
S 1: Y98.15/19/24 Ichimoku cloud base, Daily Kijun line, High Jun 26
S 2: Y97.15/24/31/43 100-DMA, Low Jun 26, 21-DMA
S 3: Y96.73/87 Daily Tenkan line, Jun 21 low
S 4: Y95.77/79/81 High Jun 18, High Jun 14
EUR/JPY breaks back above the former 38.2% Fibonacci at Y128.19 to ruse above the 21-DMA and daily Kijun line but has slowed to hold just below the 55-DMA at Y129.54, initial res just above the weekly Tenkan line at Y129.39. Daily studies remain bullish, weekly studies are a little firmer and monthly studies remain in overbought territory. A break above initial res could start a move to the daily cloud top at Y131.16, just below the dly Bolli top at Y131.21.
R 4: Y131.12/16/21 High Apr 11, Daily Ichimoku cloud top, Daily Bolli band base
R 3: Y130.33/42 23.6% of Y119.11-133.80, May 8 high
R 2: Y129.70/91 Highs Jun 21, 20
R 1: Y129.39/53 Weekly Tenkan line, 55-DMA
Latest price: Y129.15
S 1: Y128.06/08/12/18 Daily Tenkan line, Highs Jun 18, 14
S 2: Y126.95/96/127.06/07 100-DMA, High Jun 17, Apr 29 low, 21-week MA
S 3: Y126.46 50.0% of Y119.11-133.80 & Daily Ichimoku cloud base
S 4: Y126.04/18 Reversal high Mar 12, Jun 7 reversal low