EUR/USD Current price: 1.3016
Little change has seen the EUR/USD this Monday, with the pair trading in a tight range most of the day capped below 1.3040 Friday high, yet finding support around 1.2960/70, 23.6% retracement of its latest daily fall. Early Asia the pair shows in the hourly chart indicators turning flat, reflecting the current lack of interest, although the overall stance remains positive. In the 4 hours chart the pair maintains a strong bullish momentum, pointing for a test of 1.3110 area, 38.2% retracement of the same rally.
Support levels: 1.2990 1.2960 1.2920
Resistance levels: 1.3040 1.3080 1.3110
EUR/JPY Current price: 129.44
Yen weakness continues to be the main theme in market, with the Japanese currency extending to fresh multi-month lows against most of its rivals. For EUR/JPY, gains extended up to current area around 129.50, and the pair seems unable to look back. The hourly chart shows 100 SMA accelerating higher above 200 SMA, widening the distance in between both which usually supports an upward continuation, while indicators hold flat in positive territory. RSI remains in overbought territory, although giving no signs a correction is nearby. In bigger time frames, indicators also head north despite maintaining the overbought territory. 130.00 is not only possible target, but once above, the pair may quickly reach the 131.40 area, next important target in the pair
Support levels: 129.00 128.40 127.90
Resistance levels: 129.55 130.00 130.80
GBP/USD Current price: 1.5257
GBP/USD edged lower, easing below the 1.5300 mark and reaching 1.5230 area before settling. The hourly chart maintains a bearish tone, as 20 SMA gains downward slope above current price while indicators hold in negative territory. In the 4 hours chart momentum continues to head lower from overbought levels, still far from approaching its midline, while 20 SMA and 200 EMA converge in the 1.5220/30 area acting as strong support: a clear break below this price zone, should anticipate a downside continuation, with 1.5110 then at sight.
Support levels: 1.5225 1.5160 1.5110
Resistance levels: 1.5290 1.5330 1.5360
USD/JPY Current price: 99.48
The USD/JPY advance seems ready to take the 100.00 level as it was no big deal. With the weekly opening gap still unfilled around 97.50, dips towards such level should provide of great buying opportunities, although seems unlikely the pair will turn is back. The hourly chart shows indicators in positive territory, although the overbought readings are still present and corrections should not be discarded, yet expected to be limited.
Support levels: 99.10 98.70 98.20
Resistance levels: 99.60 100.00 100.40
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