USD/JPY: Support seen at 104.87 ahead of 104.3

Danske Research Team Danske Bank A/S

EUR/USD

Long upper shadows seen last 2 sessions is eroding upside momentum with trade settling lower in consolidation, keeping the bearish run from 1.1279 high firmly in play and bears seek break of lower support at 1.0850 to resume downtrend. [W.T]

USD/CHF

Pullback staged this week stalled in short-term consolidation and need a break of lower support at 0.9904 to trigger renewed weakness to .9843 stronger support. On the upside, lift above the 0.9999 resistance will set bulls back in control. [W.T]

USD/JPY

View unchanged from this morning with the renewed strength triggered last session above 104.87 resistance and poised for extension to next strong hurdle at 105.63. Intraday dips to attract buyers with support seen at 104.87 ahead of 104.30. [W.T]

EUR/CHF

Trade stuck in short-term consolidation with prices well-confined within the wider and stronger 1.0797-1.0864 band and with the preceding downmove from 1.0976 high still dominating, strategy favours selling towards the higher end of current range. [W.T]

GBP/USD

Within broader consolidation, weakness appearing with the appearance of an Engulfing-pattern last session and turning focus towards the 1.2083 support and break will expose deeper setback with the strong support at 1.1841 targeted. [W.T]

EUR/GBP

Consolidation seen whole of this week above the .8880 support is hammering out a base at the latter and need a swift lift above .8980 resistance to trigger stronger rebound to .9027 then higher .9142. [W.T]

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Danske Research Team

Danske Bank A/S

Research is part of Danske Bank Markets and operate as Danske Bank's research department. The department monitors financial markets and economic trends of relevance to Danske Bank Markets and its clients.

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