The currency couple approaches a support level at 77.40 which is anticipated to limit intraday dips of the price. At the same time resistances at 79.64 and 80.52 cap USD/JPY from above, preventing it from spontaneous advancement.
The market is lazily crawling up, nevertheless the current impetus seems to be weakening and is unable to break through resistance at 1.6142, being 200 day ma. Therefore GBP/USD is much more likely to decline to 1.5862, which in turn will be soon violated.
EUR/JPY currency pair has extended its rest upon 55 day ma situated at 107.26/106.31. In the meantime the bullish momentum is expected to gain power and drive the price up to 108.13/109.25.
Provided that a tough resistance area has hold the pressure from below, the bias for EUR/USD remains bearish. The short-term, mid-term and long-term targets are located at 1.3381/60, 1.3145 and at 1.20 respectively.
All support (1.3682/06; 1.3456) and resistance (1.3832; 1.3906; 1.4056) levels remained untapped as investors are awaiting the Italian government confidence vote results. Meanwhile, the daily trading signals point at a strong bearish bias.
Dips are unlikely to breach through a tough support zone located at 0.8555/50, suggesting a bullish outlook for USD/CHF. The immediate resistance is situated at 0.8961, while higher lines may be found at 0.9082 and 0.9184.
Support line at 77.85/40 is anticipated to withstand bearish pressure and trigger and advancement towards 79.64. Further resistances are at 80.52 and 85.53, should the bullish impetus drag the price higher.
A key resistance at 1.6142/85, being 200 day ma, is expected to halt any advancement, therefore the bias remains bearish for GBP/USD. Supports may be found at 1.5869, 55 day ma, 1.5632 and 1.5272.
EUR/JPY is currently being supported by 55 day ma, which lies at 107.01/106.47. The price is likely to rebound from it and reach 108.13/109.25 in the near-term. Subsequent resistance level may be encountered at 112.05/33.
Being capped by a strong resistance zone situated at 1.3855/1.3930, the pair is expected to carry on sliding down. The primary target lies at 1.3381/60, just above 1.3145. The long-term goal is located at 1.20.
Levels at 0.8752 and 0.8555/50 are expected to provide sufficient support and send USD/CHF towards 0.8874, should they be tested. Provided that the latter line is overcome, 0.9317 will be targeted next.
Near 77.85/40 USD/JPY is likely to regain its bullish momentum and jump up to 79.64. However, to affirm reversal subsequent resistance at 80.52 is to be breached, then the pair will aim for 85.53. Additional supports are at 77.86/77 and 77.50/40.
As long as the currency couple is capped by a tough resistance area located at 1.6142, being 200 day ma, the bias for GBP/USD will be negative. Despite being supported by a line at 1.5877, the price is expected to go lower, down to 1.5632 and eventually 1.5272.
EUR/JPY is anticipated to rebound from 55 day may situated at 106.42/76. Afterwards resistances will be in focus, namely 108.13, 109.25 and 112.05/33. Dips, on the other hand, will be limited by supports at 106.40 and 104.76.
Following a quick correction the price is expected to carry on sliding down. The primary target is located at the level of 1.3381/60, then in the case of overwhelming bearish activity 1.3145 or even 1.20 might be reached.
“Investors remain cautious and we don’t think the market already managed to re-price to a more benign scenario“-JPMorgan Chase & Co. (based on Bloomberg)Industry outlookThe current downtrend of USD/CHF is anticipated to end near strong supports at 0.8855 and 0.8771, being 200 day ma. Fol-lowing a likely rebound from here the price is expected to jump up to 0.9055, covering
“Signs the [UK] economy is slowing have prompted calls for more government support for the private sec-tor ”- WSJIndustry outlookCurrency couple’s rally has been halted by a resistance line situated at 1.5835, triggering a trade off. Currently the pair is head-ed towards 1.5715. In case the latter level is breached, the price is expected to target lower supports located at
“Concerns are easing over Europe’s debt crisis and its effect on the global financial system, reducing credit risk in the short-term”- Ichiyoshi Investment Management (based on Bloomberg)Industry outlook$EUR/JPY failed to climb over a downtrend line at 107.31 which has successfully stopped a rally. Therefore the pair is now likely to commence declining, first down to 105.00, and afterwards even lower
“The euro's outlook from here looks weak”- Mizuho Corporate Bank (based on CNBC)Industry outlookThe euro - American dollar currency pair is nearing a major resistance zone located at 1.3940/1.4077, which consists of 55 and 200 day ma's, as well as of 55 and 200 week ma's. This implies an increasing possibility of the price sliding down after en-countering this area.Traders'
Industry outlookCurrent rally, which started after USD/CHF collided with 0.9000, is likely to commence stepping lower as soon as it encounters a strong resistance situated at 0.9317, thus supports at 0.8947 and 0.8927/18 will be in focus on Wednesday. Nevertheless, the longer term outlook is positive.Traders` sentimentThe greenback has lost a significant portion of its supporters, as the share of
USD/JPY is still being traded within a narrow corridor, formed by 76.95, being 55 day ma, from above and 76.25, which is a March low, from below. Secondary resistance and support may be found at 77.27 and 75.94 respectively.Traders` sentimentThe gap between the longs (55.15%) and shorts (44.85%) in the market has widened, as many market participants have changed their
Industry outlookThe bullish impetus weakens with each moment, but still it is anticipated to last until a resistance zone located at 1.5762/86 is reached. Subsequent resistances are at 1.5912/45 and 1.6020. In the long-term the pair is deemed as bearish, aiming for 1.50.Traders’ sentimentSlowly and steadily the share of long trades in GBP/USD market is increasing relatively to the part
Industry outlookEven though EUR/JPY did not manage to pierce through 105.00, the currency couple is perceived as a bullish one as long as it stays above 102.47. Additional support is provided by lines at 101.95 and 100.77.Traders’ sentimentToday the advantage in numbers of long positions over short ones has become clearer, as bullish traders now constitute 53.18% of the market,
Industry outlookThe resistance area at 1.3691 has successfully repelled the attack of the pair, sending it lower. At the moment the price is headed towards 1.3495 which is expected to hold and then trigger a rally which will again struggle at 1.3682/91.Traders` sentimentThe amount of long trades in EUR/USD market has stopped decreasing and managed to rally up to 46.41%.