Drop from 1.2920 puts the pair currently back below 1.2732 (see graph) and below the redrawn daily Uptrendline off year low (1.2770 today).
Support area at 1.2645 (current week low + daily projection band bottom), ahead of 1.2625/ .2611 (Aug 31 low/ daily envelope bottom) and 1.2588/ .2580 (Aug 24 low/ daily Bollinger bottom + modified daily Alpha Beta trend bottom), where pause favored.
If wrong, next level at 1.2562 (daily modified Standard Error band bottom) and1.2522 (July 13 low): tough on 1st tests.
Resistance at 1.2717/ .2728 (breakdown hourly/ daily envelope top + daily Short Term Moving Average↓), with next levels at 1.2751 (daily Bollinger midline), ahead of 1.2767/ .2773 (reaction highs hourly) and 1.2789 (breakdown hourly), where pause favored.
If wrong, next levels at 1.2814/ .2831 (reaction high hourly/ breakdown hourly), ahead of 1.2872/ 1.2881 (breakdown hourly/ daily Long Term Moving Average↓) and 1.2920/ .2923 (current week high/ Aug 18 high + daily Bollinger top + daily modified Standard Error band top): tough on 1st tests.
USD/JPY: (84.07) New multi year low has been scored
EUR/GBP: (.8227) Approaching Uptrendline off .8143
EUR/JPY: (106.50) Reapproached new reaction low after failure at 109.56
