Rebound off 1.2331 (key Reversal day) sent the pair back in the channel off 1.4867 and retested breakdown area of Oct 20 (1.3284).
Drop from 1.3294 retested 1.2527 (see graph): Support area at 1.2477 (today’s low?), with next levels at 1.2454/ .2443 (long term reaction lows hourly), ahead of 1.2385 (daily envelope bottom): tough on 1st attempts.
If wrong, next levels at 1.2331/ .2324 (reaction low off high/ weekly envelope bottom) and 1.2300 (2nd target of daily channel break off 2005 low), where pause favored.
Resistance at 1.2606 (breakdown hourly), with next levels at 1.2644/ .2649 (daily envelope top/ daily Short Term Moving Average↓), ahead of 1.2716 (breakdown daily)
1.2869 = daily Bollinger midline, which played Resistance role in recent corrective attempts.
USD/JPY: (97.72) Back in channel off 110.67
EUR/GBP: (.8143) New high in channel off .7694
EUR/JPY: (123.00) Currently still above channel off 155.20
