EUR/USD broke above the $1.3200 level but closed below, however price action today already testing above and bulls eye a close above. Initial res at $1.3218/28/43. Daily studies stretched but still bullish, a close above could see them stretch further, but mthly studies remain bearish, failure to close above $1.3200 could open the downside. Initial supp is at $1.3164/74.
R 4: $1.3342/73 Resistance line from May 2011
R 3: $1.3306/08 High Jun 6, Reversal high Dec 19
R 2: $1.3255/61/79 Daily Bolli band top, Low Jun 13
R 1: $1.3218/28/43 High Jul 22, Reversal high May 1
Latest price: $1.3195
S 1: $1.3164/74 61.8% of $1.3417-1.2755, High Jul 16
S 2: $1.3082/83/86 200-DMA, Low Jul 17
S 3: $1.3065 55-DMA
S 4: $1.3032/34/36 Jul 3 high, 21-DMA, 100-DMA
GBP/USD broke above the 55-DMA res level and tested territory just below the 61.8% of $1.5752-1.4814, initial res at $1.5394, just above yesterday’s high at $1.5384. A break above would open the topside to further gains but dly studies are in overbought territory and failure to break above initial res could send the pair lower. Further res at $1.5470 and initial supp is the strong level around $1.5283-96.
R 4: $1.5581 200-DMA
R 3: $1.5531 High Jun 21
R 2: $1.5470 Daily Bollinger band top
R 1: $1.5384/94 High Jul 22
Latets price: $1.5370
S 1: $1.5283/87/96 Former support line May 29 low, 55-DMA
S 2: $1.5222 High Jul 11
S 3: $1.5169/72/74 High Jul 16, 21-DMA
S 4: $1.5028/35/79 Low Jul 15, Low Jul 17
USD/JPY fades from the May 22 resistance line to close below a strong supp level around the dly Tenkan line at Y99.57. Bears are squeezing the pair lower and the daily Ichimoku cloud top is back within sight, further supp at Y98.76 alongside a couple of Fibonacci levels. Ahead of here, initial supp is at Y99.04/08. Studies are mixed but mainly bearish and mthly studies look set to reverse lower from overbought territory.
R 4: Y101.39-59 high Apr 2009, High Jul 8, Dly Bolli top
R 3: Y100.79/87 Resistance line from May 22, High Jul 19
R 2: Y99.94/95/100.07 Highs Apr 11, Jul 16
R 1: Y99.69/70 Hourly high
Latest price: Y99.47
S 1: Y99.04/08 Lows Jul 17, 15
S 2: Y98.57/76 Daily Ichimoku cloud top
S 3: Y98.10/16/27/31 100-month MA, Weekly Tenkan, Low Jul 11, 100-DMA
S 4: Y97.66/70/79 50.0% Y93.79-101.53, Daily Ichimoku cloud base, Aug 2009 high
EUR/JPY slides from the daily Bollinger band top as daily studies look a little weaker in overbought territory. Initial support is now seen at Y130.33-77, daily Tenkan line and hourly low. A break below here runs into support thick and fast, next sup around Y130.00. However, weekly/monthly studies rise and initial res at Y131.48/64.
R 4: Y133.80/134.02 Reversal high May 22, Rising channel top
R 3: Y132.77/87 High May 14, High May 23
R 2: Y132.34/40/44 Daily Bollinger band top, High May 13, High Jul 22
R 1: Y131.48/64 Hourly high, 100-Month MA
Latest price: Y131.24
S 1: Y130.33/54/77 Daily Tenkan line, Hourly low
S 2: Y129.70-130.04 High Jun 21, 21-DMA, Low May 23, channel base, 55-DMA
S 3: Y129.32/37 Daily Kijun line, Daily Ichimoku cloud top
S 4: Y128.93/98 High May 1, Low May 8