EURJPY
The pair fell sharply to 145.57 last Friday, leaving near-term top at 149.12. Friday’s close in red, justifies last Thursday’s Shooting Star, along with weekly Doji with long upper shadow, signaling hesitation ahead of psychological 150 barrier. Dips were contained for now at Fibonacci 23.6% of 134.12/149.12 rally, reinforced by 4-hour 55EMA and more significant daily 10SMA. Break and close below here to confirm negative stance for further easing towards 143.40, Fibonacci 38.2% retracement. Corrective bounce off 145.57, approaches important 147 resistance zone, Fibonacci 38.2% of 149.12/145.57 downleg, reinforced by 4-hour Tenkan-sen/Kijun-Sen bear cross, where rally should be ideally capped. Otherwise break and close above here, would sideline downside risk, with fresh extension above 147.75/148, Fibonacci 61.8% / Friday’s intraday highs, to signal higher low formation and shift focus towards 149.12 peak.
Res: 147.00; 147.35; 147.75; 148.00
Sup: 146.65; 146.37; 146.00; 145.57
GBPJPY
Near-term tone turned positive after the pair fully reversed last Friday’s 185.67/183.95 descend, on a bounce from hourly higher base at 183.95, also broken 50% of larger 251.08/116.82 descend. The pair is looking for completion of 186.09/183.95 consolidation, before resuming higher. Overall bullish picture favors further upside, as rally retraced over 50% of multi-year fall from 251.08. Sustained break above 186 barrier, to open Fibonacci projection level at 186.80 and look for psychological 190 barrier, in extension. However, prolonged consolidative phase could be triggered by overextended daily studies. Initial support at 183.95, along with daily Tenkan-sen line at 183.60, should ideally hold, guarding more significant 181 higher base. Only break here would signal stronger pullback.
Res: 185.80; 186.09; 186.80; 187.00
Sup: 185.27; 185.00; 184.47; 184.00
EURGBP
The pair remains under pressure in the near term, as last Friday’s acceleration lower, tested 0.79 support today, near Fibonacci 61.8% of 0.7800/0.8037 rally. On the other side, larger picture studies are positive, but bulls are coming under pressure after last Friday’s and weekly close in red. Today’s close below daily 10SMA at 0.7943, would keep the downside vulnerable, with violation of psychological 0.79 support and daily 20/55SMA’s bull cross at 0.7892, required to confirm further range-trading and expose 0.8045/0.7797 rage’s lower levels, for test.
Res: 0.7933; 0.7953; 0.7985; 0.8000
Sup: 0.7890; 0.7860; 0.7800; 0.7765
The pair fell sharply to 145.57 last Friday, leaving near-term top at 149.12. Friday’s close in red, justifies last Thursday’s Shooting Star, along with weekly Doji with long upper shadow, signaling hesitation ahead of psychological 150 barrier. Dips were contained for now at Fibonacci 23.6% of 134.12/149.12 rally, reinforced by 4-hour 55EMA and more significant daily 10SMA. Break and close below here to confirm negative stance for further easing towards 143.40, Fibonacci 38.2% retracement. Corrective bounce off 145.57, approaches important 147 resistance zone, Fibonacci 38.2% of 149.12/145.57 downleg, reinforced by 4-hour Tenkan-sen/Kijun-Sen bear cross, where rally should be ideally capped. Otherwise break and close above here, would sideline downside risk, with fresh extension above 147.75/148, Fibonacci 61.8% / Friday’s intraday highs, to signal higher low formation and shift focus towards 149.12 peak.
Res: 147.00; 147.35; 147.75; 148.00
Sup: 146.65; 146.37; 146.00; 145.57
GBPJPY
Near-term tone turned positive after the pair fully reversed last Friday’s 185.67/183.95 descend, on a bounce from hourly higher base at 183.95, also broken 50% of larger 251.08/116.82 descend. The pair is looking for completion of 186.09/183.95 consolidation, before resuming higher. Overall bullish picture favors further upside, as rally retraced over 50% of multi-year fall from 251.08. Sustained break above 186 barrier, to open Fibonacci projection level at 186.80 and look for psychological 190 barrier, in extension. However, prolonged consolidative phase could be triggered by overextended daily studies. Initial support at 183.95, along with daily Tenkan-sen line at 183.60, should ideally hold, guarding more significant 181 higher base. Only break here would signal stronger pullback.
Res: 185.80; 186.09; 186.80; 187.00
Sup: 185.27; 185.00; 184.47; 184.00
EURGBP
The pair remains under pressure in the near term, as last Friday’s acceleration lower, tested 0.79 support today, near Fibonacci 61.8% of 0.7800/0.8037 rally. On the other side, larger picture studies are positive, but bulls are coming under pressure after last Friday’s and weekly close in red. Today’s close below daily 10SMA at 0.7943, would keep the downside vulnerable, with violation of psychological 0.79 support and daily 20/55SMA’s bull cross at 0.7892, required to confirm further range-trading and expose 0.8045/0.7797 rage’s lower levels, for test.
Res: 0.7933; 0.7953; 0.7985; 0.8000
Sup: 0.7890; 0.7860; 0.7800; 0.7765
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