EUR/JPY
The EUR/JPY surges from 99.50 higher base, with break above psychological 100.00 barrier and 200 day MA at 101.75, to retrace over 50% of 111.42/94.22 descend, on approach to 103.00 level. As positive sentiment continues to drive the price higher and larger picture outlook sees room for further stretch higher, break above 103.00 to open 103.60/80 and 104.00, with strong barrier seen at 104.80, Fib 61.8% and Apr low. From the other side, extremely overbought conditions on a lower timeframes, do not show any signal of correction yet. Strong support lies at 101.75/61, 200 day MA / 21 June high.
Res: 103.60, 103.80, 104.00, 104.50
Sup: 102.17, 102.00, 101.75, 101.61
EUR/GBP
The pair retraces the biggest part of short-term 0.8152/0.7755 downleg, as gains accelerated on a break above 0.8000, previous high / Fib 61.8%, with rally exceeding the next upside target at 0.8100. This opens way for test of key short-term barrier at 0.8155, mid-June double-top and 200 day MA, break of which would trigger stronger correction of longer-term downtrend from 0.9082, 2011 peak. Bulls remain unobstructed by overextended short-term indicators for now.
Res: 0.8130, 0.8155, 0.8200, 0.8225
Sup: 0.8075, 0.8036, 0.8000, 0.7965
GBP/JPY
The pair rallies strongly after basing at 124.60 zone, where 200 day MA contained dips. Fresh strength through previous high and 50% of 133.46/118.77, med-term downtrend at 126.15, tests figure resistance at 127.00, also 16 Apr low (127.08), to open way for extension towards 127.87, Fib 61.8% next. As daily studies are gaining momentum, further gains are favored, however, overextended hourly and 4h studies suggest corrective action may precede fresh rally. Previous barriers at 126.15/00, now offer initial support.
Res: 127.00, 127.08, 127.50, 127.87
Sup: 126.43, 126.15, 126.00, 125.70
GBP/CHF
Acceleration of broader downtrend from 1.5478, 23 July peak, was triggered on a break below one-month base at 1.5080, with violation of psychological 1.5000 support, also Fib 61.8% of 1.4718/1.5478 upleg, further weakening short-term structure. Weekly close below the latter, to signal fresh bearish extension and expose 1.4930/00 zone next. Negative daily studies remain supportive, however, hourly indicators, entering oversold zone, may delay bears. Previous supports at 1.5050/80, now act as initial resistances.
Res: 1.5050, 1.5080, 1.5100, 1.5132
Sup: 1.5000, 1.4988, 1.4930, 1.4900
The EUR/JPY surges from 99.50 higher base, with break above psychological 100.00 barrier and 200 day MA at 101.75, to retrace over 50% of 111.42/94.22 descend, on approach to 103.00 level. As positive sentiment continues to drive the price higher and larger picture outlook sees room for further stretch higher, break above 103.00 to open 103.60/80 and 104.00, with strong barrier seen at 104.80, Fib 61.8% and Apr low. From the other side, extremely overbought conditions on a lower timeframes, do not show any signal of correction yet. Strong support lies at 101.75/61, 200 day MA / 21 June high.
Res: 103.60, 103.80, 104.00, 104.50
Sup: 102.17, 102.00, 101.75, 101.61
EUR/GBP
The pair retraces the biggest part of short-term 0.8152/0.7755 downleg, as gains accelerated on a break above 0.8000, previous high / Fib 61.8%, with rally exceeding the next upside target at 0.8100. This opens way for test of key short-term barrier at 0.8155, mid-June double-top and 200 day MA, break of which would trigger stronger correction of longer-term downtrend from 0.9082, 2011 peak. Bulls remain unobstructed by overextended short-term indicators for now.
Res: 0.8130, 0.8155, 0.8200, 0.8225
Sup: 0.8075, 0.8036, 0.8000, 0.7965
GBP/JPY
The pair rallies strongly after basing at 124.60 zone, where 200 day MA contained dips. Fresh strength through previous high and 50% of 133.46/118.77, med-term downtrend at 126.15, tests figure resistance at 127.00, also 16 Apr low (127.08), to open way for extension towards 127.87, Fib 61.8% next. As daily studies are gaining momentum, further gains are favored, however, overextended hourly and 4h studies suggest corrective action may precede fresh rally. Previous barriers at 126.15/00, now offer initial support.
Res: 127.00, 127.08, 127.50, 127.87
Sup: 126.43, 126.15, 126.00, 125.70
GBP/CHF
Acceleration of broader downtrend from 1.5478, 23 July peak, was triggered on a break below one-month base at 1.5080, with violation of psychological 1.5000 support, also Fib 61.8% of 1.4718/1.5478 upleg, further weakening short-term structure. Weekly close below the latter, to signal fresh bearish extension and expose 1.4930/00 zone next. Negative daily studies remain supportive, however, hourly indicators, entering oversold zone, may delay bears. Previous supports at 1.5050/80, now act as initial resistances.
Res: 1.5050, 1.5080, 1.5100, 1.5132
Sup: 1.5000, 1.4988, 1.4930, 1.4900
