EURJPY
The pair holds positive 4-hour studies tone and consolidates within 136.50/137.24 range, after around 20-pips weekly gap-higher opening and upside attempts limited by daily Kijun-sen line, on so far unsuccessful attempt for sustained break above 137 handle. On the other side, daily studies are still weak, with last Friday’s Doji signaling indecision at pivotal 137 barrier. Clear break here and rally through 137.66, 50% retracement of 141.20/134.12 descend / daily 100SMA is required to confirm break and open next target at 137.90, lower platform. Otherwise, expect prolonged consolidative phase, with increased downside risk, in case of failure and close below 137 level and loss of higher base at 136.50 zone, also near Fibonacci 38.2% of 135.19/137.24 ascend, which so far offers good support.
Res: 137.00; 137.24; 137.66; 137.92
Sup: 136.50; 136.20; 136.00; 135.50
GBPJPY
The pair resumed recovery rally after leaving higher low at 171.03, with fresh strength ending last Friday’s and weekly trade in positive mode, closing at 174 level after break above daily 100; 55 and 20 SMA’s and probing above 174 barrier on gap-higher opening. Near-term studies remain positive and favor further upside, which requires close above 174 barrier, to allow for test of 50% retracement of 180.67/167.99 at 174.33 and attempt at daily Ichimoku cloud base at 175.00, in extension. Last Friday’s low at 172.94, also peak of 20 Oct, offer the first strong support, ahead of 200SMA at 172 and trough at 171, also 50% of 167.99/174.17.
Res: 174.00; 174.17; 174.33; 175.00
Sup: 173.36; 172.94; 172.00; 171.68
EURGBP
The pair remains in descending mode off 15 Oct peak at 0.8045, where an upside rejection occurred on approach to 0.8064, 10 Sep high and breakpoint. Reversal so far dipped to 0.7860, marking over 61.8% retracement of 0.7765/0.8045 upleg, also break and close below daily 20 SMA. Near-term studies remain negative and favor further weakness, with the notion being supported by fresh bears, developing on daily chart, as well as daily/weekly close in red. Immediate support and target lies at 0.7848, 10 Oct higher low, loss of which would accelerate bears for possible full retracement of 0.7765/0.8045 ascend, as no significant supports are seen on the way lower. Lower platform at 0.79 zone, offers initial resistance, ahead of 0.7930, Fibonacci 38.2% of 0.8045/0.7860 descend and higher low of 21 Oct at 0.7940.
Res: 0.7900; 0.7940; 0.7973; 0.8000
Sup: 0.7860; 0.7848; 0.7819; 0.7800
The pair holds positive 4-hour studies tone and consolidates within 136.50/137.24 range, after around 20-pips weekly gap-higher opening and upside attempts limited by daily Kijun-sen line, on so far unsuccessful attempt for sustained break above 137 handle. On the other side, daily studies are still weak, with last Friday’s Doji signaling indecision at pivotal 137 barrier. Clear break here and rally through 137.66, 50% retracement of 141.20/134.12 descend / daily 100SMA is required to confirm break and open next target at 137.90, lower platform. Otherwise, expect prolonged consolidative phase, with increased downside risk, in case of failure and close below 137 level and loss of higher base at 136.50 zone, also near Fibonacci 38.2% of 135.19/137.24 ascend, which so far offers good support.
Res: 137.00; 137.24; 137.66; 137.92
Sup: 136.50; 136.20; 136.00; 135.50
GBPJPY
The pair resumed recovery rally after leaving higher low at 171.03, with fresh strength ending last Friday’s and weekly trade in positive mode, closing at 174 level after break above daily 100; 55 and 20 SMA’s and probing above 174 barrier on gap-higher opening. Near-term studies remain positive and favor further upside, which requires close above 174 barrier, to allow for test of 50% retracement of 180.67/167.99 at 174.33 and attempt at daily Ichimoku cloud base at 175.00, in extension. Last Friday’s low at 172.94, also peak of 20 Oct, offer the first strong support, ahead of 200SMA at 172 and trough at 171, also 50% of 167.99/174.17.
Res: 174.00; 174.17; 174.33; 175.00
Sup: 173.36; 172.94; 172.00; 171.68
EURGBP
The pair remains in descending mode off 15 Oct peak at 0.8045, where an upside rejection occurred on approach to 0.8064, 10 Sep high and breakpoint. Reversal so far dipped to 0.7860, marking over 61.8% retracement of 0.7765/0.8045 upleg, also break and close below daily 20 SMA. Near-term studies remain negative and favor further weakness, with the notion being supported by fresh bears, developing on daily chart, as well as daily/weekly close in red. Immediate support and target lies at 0.7848, 10 Oct higher low, loss of which would accelerate bears for possible full retracement of 0.7765/0.8045 ascend, as no significant supports are seen on the way lower. Lower platform at 0.79 zone, offers initial resistance, ahead of 0.7930, Fibonacci 38.2% of 0.8045/0.7860 descend and higher low of 21 Oct at 0.7940.
Res: 0.7900; 0.7940; 0.7973; 0.8000
Sup: 0.7860; 0.7848; 0.7819; 0.7800
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