New recovery high above channel off 1.3832 (see graph): currently back above the inverted channel top off June low (1.4690 today) and toying back with 1.4719 (Dec 18 2008 high + neckline of massive daily Double Bottom).
Support area at 1.4693 (break-up hourly), with next levels at 1.4627/ .4611 (daily envelope bottom/ current week low), ahead of 1.4595/ .4587 (weekly envelope bottom/ daily Medium Term Moving Average↑): ideal area to stay above to keep current short term mood on €.
1.4438 = break-up hourly: ideal area to stay above to keep current medium term mood intact on €.
Resistance at 1.4729 (daily envelope top), with next levels at 1.4735/ .4748 (weekly Bollinger top/ broken weekly Uptrendline off 2002 low), ahead of 1.4768 (current recovery high off year low), where pause favored.
If wrong, next levels at 1.4845/ 485 (Equality C wave off 1.2457/ daily Bollinger top), ahead of 1.4867 (Sept 2008 spike + weekly envelope top): tough on 1st attempts, amid overbought readings and threat of bearish divergences in the making.
USD/JPY: (91.72) Above channel off 97.79
EUR/GBP: (.9060) Has met potential of channel break off .8458
EUR/JPY: (134.97) Above 134.41
