EUR/USD close below the key 38.2% support level, now minor res at $1.3186 but focus now on the 200-DMA at $1.3146 which was tested yesterday but closed a little above, also around this level is the 100-DMA at $1.3137 and the 5-month MA at $1.3140, bears look to close below this level today. Ahead of here, initial support is at $1.3162 – the daily Bollinger band base. Studies are mainly bearish, however daily studies are becoming oversold, cautioning bears.
R 4: $1.3288/92 Former May 2011 resistance line
R 3: $1.3252 Resistance line from Feb 2013
R 2: $1.3198 5-day moving average
R 1: $1.3188 55-DMA
Latest price: $1.3164
S 1: $1.3162 Daily Bollinger band base
S 2: $1.3140/46 5-month MA, 200-DMA
S 3: $1.3103 50.0% of $1.2755-1.3452
S 4: $1.3073 Jul 2012 Support line
GBP/USD continues to pressure to the upside but has met resistance around $1.5600 for the past two days, leaving highs at $1.5594 and $1.5603, just below our initial res level at $1.5608 – the 61.8% of $1.5718-1.5429 and also the 50.0% of $1.6381-1.4832 at $1.5606, so a strong res level is seen here. Daily and monthly studies are turning higher – a close above initial res could see bulls take control and test the Aug 21 reversal high at $1.5718.
R 4: $1.5684/88 Daily Bollinger band top, 100-week MA
R 3: $1.5650 76.4% of $1.5718-1.5429
R 2: $1.5636 55-week MA
R 1: $1.5608 61.8% of $1.5718-1.5429
Latest price: $1.5562
S 1: $1.5534 5-day moving average
S 2: $1.5500/05 200-DMA
S 3: $1.5464/70 Former Resistance line from Jan 2013, Jul 9 support line
S 4: $1.5428/29 Daily Bollinger band base, Low Aug 28
USD/JPY holds above the daily Ichimoku cloud top, still initial support but now at Y99.31. Bulls are now testing resistance, initial res was at Y99.74, the 50.0% of Y124.14-75.35 but bulls already edged above to a high of Y99.75 – initial res now at Y99.83/86, the dly Bolli top and yesterday’s high. A break above here could then test Y99.94 – 61.8% of Y103.74-98.79. However, monthly studies remain overbought and bears look to break back within the cloud.
R 4: Y100.87 High Jul 19
R 3: Y100.04 Monthly Ichimoku cloud top
R 2: Y99.94 61.8% of Y103.74-93.79
R 1: Y99.83/86 Daily Bollinger band top, High Sept 3
Latest price: Y99.70
S 1: Y99.31 Daily Ichimoku cloud top
S 2: Y98.99 100-DMA
S 3: Y98.72/76 May 22 Trendline, Daily Ichimoku cloud base
S 4: Y98.28/34 Low Sept 2, Daily Tenkan line
EUR/JPY is moving up towards the May 22 trendline, still further resistance at Y132.03, just below the 50.0% of Y169.96-Y94.12 at Y132.04. Daily studies appear to have reversed higher and bulls will likely take control while the pair remains above the daily Tenkan line, initial support at Y130.87. Initial resistance is at Y131.48/55, yesterday’s high and the 55-month MA, above here is the May 22 trendline and then the daily Bolli band top at Y132.25.
R 4: Y132.43 High Aug 23
R 3: Y132.25 Daily Bollinger band top
R 2: Y132.03/04 Trendline from May 22
R 1: Y131.48/55 High Sept 3, 100-month MA
Latest price: Y131.28
S 1: Y130.87 Daily Tenkan line
S 2: Y130.35 Daily Ichimoku cloud top
S 3: Y130.21 Daily Kijun line
S 4: Y130.01 100-day moving average