GBP/USD holds just under the 5-DMA of $1.6660 as bears focus on weakening daily studies and Fibonacci retracements of the February advance at $1.6605 and $1.6537. The daily slow stochastic study has completed a bear-cross, while resistance is from that 5-DMA and near-term Fibonacci level of $1.6763 ahead of the top of the Bollinger band and high, both at $1.6823.
R 4: $1.6878 Monthly high of Nov 2009
R 3: $1.6826 138.2% projection level
R 2: $1.6823 Bollinger band top, High Feb 17
R 1: $1.6660 5-DMA
LP: $1.6639
S 1: $1.6625 Hourly low
S 2: $1.6603/05 Former reversal high Jan 2, Fibonacci level
S 3: $1.6535/37 21-DMA, 50% of February rally
S 4: $1.6517 High Jan 10
USD/JPY recovers the Tenkan line at Y102.12 with the daily studies stagnating and so-far avoiding a bear-cross in the daily stochastic study. At the same time, 10-day momentum is is holding just atop the zero line. Bears face support from the Ichimoku cloud base at Y101.57. Near-term resistance is Y102.74/81.
R 4: Y103.95 Ichimoku cloud top
R 3: Y103.38/65 55-DMA, 61.8% level
R 2: Y103.10 50% of 2014 decline
R 1: Y102.74/81 High 18 Feb, Daily Kijun line
LP: Y102.32
S 1: Y101.53/57/68 Reversal high Jul 8 & 50.0% Y97.62-105.44, Cloud base, 100-DMA
S 2: Y101.38 Low 17 Feb
S 3: Y100.61/75 High Sept 11 & 61.8% Y97.62-105.44, Early Feb lows
S 4: Y100.21 200-day moving average
EUR/JPY sees the daily slow-stochastic study risking a bear-cross from a recent recovering stance. The pair holds under Fibonacci resistance at Y140.99 and the Y141.25 55-DMA, while bears try and turn attention to the Tenkan line of the Ichimoku cloud at Y139.98.
R 4: Y142.46 Ichimoku Cloud top
R 3: Y141.96/142.04 Lows Jan 3, 9
R 2: Y141.25/51 55-DMA, 1% Upper Band
R 1: Y140.99 61.8% retracement level
LP: Y140.53
S 1: Y139.34/42/98 Kijun line, 21-DMA, Tenkan line of Ichimoku cloud
S 2: Y138.54/67 100-DMA, Low 12 Feb
S 3: Y138.44/46 Ichimoku cloud base, 50.0% Y131.22-145.69
S 4: Y138.11 High Feb 3