EUR/USD left long upper-shadow after hitting $1.3207, sending daily studies higher. Weekly studies also firmer but mthly studies remain bearish. Initial res is at $1.3100, hourly high and 23.6%. Initial supp now very close at $1.3061/76, a convergence of the 55-DMA and the 200 & 21-DMAs and the hourly low. The 55-DMA crossed below 200-DMA recently, a bearish signal, a break below here would target 100-DMA and 38.2% of $1.2755-1.3207 – at $1.3031/34.
R 4: $1.3279/86/95 Low Jun 13, Daily Bollinger band top, Low Jun 14
R 3: $1.3228 50.0% of $1.3711-1.2746
R 2: $1.3194/3200/07 Resistance line from Jun 19, High Apr 17, High Jul 10
R 1: $1.3100-15 Hourly high & 23.6% $1.2755-1.3207, High Jun 28, 38.2%
Latest price: $1.3072
S 1: $1.3061/76 55-DMA, 200-DMA & 21-DMA & Hourly low
S 2: $1.3031/32/34 100-DMA, Jul 3 high
S 3: $1.2981/85/98 50.0% of $1.2755-1.3207, Low Jun 26, High May 22
S 4: $1.2923-43 Low Jul 3, 55-wk MA, Jul 2012 Supp line
GBP/USD bounced from the $1.4814 Jul 9 low to climb to a high of $1.5222 yesterday, the monthly chart shows a double-bottom pattern, bulls will require a break above $1.5752 to confirm. However, monthly studies are bearish and initial supp at $1.5110, the supp line from March low. On the other hand, daily studies turned bullish and initial res is at $1.5202, the Jun 27 low, with
further res at $1.5222/37, the Jul 11 high and former May 29 support line
R 4: $1.5334 55-DMA
R 3: $1.5264/81/83 100-DMA, High May 20, 21-DMA
R 2: $1.5222/37 High Jul 11, Former support line from May 29 low
R 1: $1.5202 Low Jun 27
Latest price: $1.5168
S 1: $1.5110 Support line from Mar low
S 2: $1.5035/38/49 23.6% of $1.5732-1.4814, 5-DMA
S 3: $1.5009/18 Low May 29, High Jul 10
S 4: $1.4966/79/81 High Jul 8, Monthly Bollinger band base, High Jul 9
USD/JPY still within the daily Ichimoku cloud but already broke above to test the 55-DMA, initial res at Y99.36. Daily studies are sharply lower and 10-day momentum slips below the key zero-line, a bearish indicator. Monthly studies are reversing lower from overbought levels and initial support at Y98.46/57/68, the 21-DMA, 38.2% of Y93.73-101.53 and the hourly low. Below here is the key daily cloud base at Y98.15, joined by the 100-mth MA at Y98.10.
R 4: Y100.77/79 Low Jul 9, May 9 high
R 3: Y99.90/94/95 High Apr 22 & Daily Tenkan, High Apr 11
R 2: Y99.70 23.6% of Y93.79-101.53
R 1: Y99.36 55-DMA
Latest price: Y98.99
S 1: Y98.46/57/68 21-DMA, 38.2% of Y93.79-101.53, Hourly low
S 2: Y98.10/15/27 100-month MA, Ichimoku cloud base, Low Jul 11
S 3: Y97.66/79/81 50.0% of Y93.79-101.53, Aug 2009 high, 100-DMA
S 4: Y96.75/87 61.8% of Y93.79-101.53, Jun 21 low
EUR/JPY remains in the rising channel but continues to pressure the top of the dly Ichimoku cloud, at Y129.56 but already broke above to test res around Y129.95/97, hourly high and May 23 low. Above here, res at Y130.33/42/43 – 23.6% of Y119.11-133.80, May 8 high and Jul 11 high. However, studies mainly bearish or likely to reverse lower, initial supp at Y128.93/98, May 1 high and May 8 low. Below here, 21-DMA and rising channel base at Y128.71/73.
R 4: Y132.04/08 May 31 high
R 3: Y131.12/21 High Apr 11, Daily Bollinger band top
R 2: Y130.33/42/43 May 8 high, High Jul 11
R 1: Y129.95/97 Hourly high, Low May 23
Latest price: Y129.40
S 1: Y128.93/98 High May 1, Low May 8
S 2: Y128.71/73 21-DMA, Rising channel base
S 3: Y128.39/45 200-month MA, High Jun 26
S 4: Y128.08/12/15/19 Highs Jun 18, 14, Daily Kijun