EURUSD Current price: 12721

EURUSD

Good morning.
The down move continued yesterday with a break through both support levels. The pair is now sitting just above the daily cloud support at 12645. If the pair can close below that level it would be very negative and send it down to 12200 in an ABC sequence. 4 hr chart we are showing a strong turn this morning but the pair needs to close above 12785 to push up through the high at 12923 and beyond. The bias is slightly to the downside (but with a weaker USD the bias on the other pairs I would take extreme care on that side)

Support levels: 12733 12775 12900

Resistance levels: 12849 12923 13087

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GBPUSD Current price: 15392

GBPUSD

The pair managed to break through the base yesterday but just to come back inside. I can now see a wedge formation that favours a break to the upside (eventually). The cloud cover is also starting to get thinner showing there is less resistance. A break of 15474 sends the pair bullish with the first target 15800. A break of the base at 15270(although unlikely) would send the pair down to 15117

Support levels: 15325 15269 15117

Resistance levels: 15434 (strong) 15472 15500
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USDJPY Current price: 8348

USDJPY

Without any intervention from Japan and the risk trade, the pair just keeps pushing lower. I have some trend line support at 8326 but without any solid signal to buy, this pair could drift down further to 8276. I would need to see a move above 8475 to turn the pair bullish

Support levels: 8325 8300 8279

Resistance levels: 8393 8441 8474
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EURJPY Current price: 10635

EURJPY

Struggling to show any other pairs this morning that show any good signals. This is the EURJPY daily chart. As you can see I have a wedge formation forming that should break to the upside (base at 10480). I also have some pretty good fib levels with 261.8% at 10696. The short term bias is still to the downside but I would sell with caution.

Support levels: 10535 10480 10400

Resistance levels: 10805 10960 11065 (wedge)

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