While USD/CHF is supported by a formidable level at 0.9066/0.9000, the pair is bullish and should penetrate 0.9180 in the near future. This would imply an extension of a rally up to 0.9317 with the possibility to reach 0.9595 afterwards.
Bearish correction is likely to be over at 80.29 and USD/JPY should now commence recovery. The initial resistance lies at 81.78, while 82.03, 83.31 and 84.19 will also attempt to hamper bullish advancement.
Even though the Cable bounced off 1.5848/40 (55 and 200 day ma) and is now headed towards 1.6062/67, there is little chance for the latter level to be breached. Additional support is provided by 1.5805 and 1.5780.
Breakout of 107.10 would confirm intentions of EUR/JPY to continue moving in the upwards direction and would set the following target at 108.62. Provided that 104.24/103.50 stays intact, we could observe a rally up to 111.43/57.
At the moment EUR/USD currency pair is contained by 1.3205 (55 day ma) from above and by 1.2995 form below. Given that long-term outlook remains negative, the focus is on the supports located at 1.2974/54 and 1.2945.
USD/CHF is anticipated to repeat its attempt to break through 0.9180 in the near future. Then it would aim for 0.9317/42, which lies en route to 0.9595. Supports may be found at 0.9125, 0.9085 and 0.9066.
The currency pair is now expected to start full blown recovery, as it has found a strong support at 80.82 and is headed towards 82.00/12. A close above 82.00/12 would confirm serious intentions of USD/JPY to surge further.
Despite a rebound from 1.5839 the rally is unlikely to last for long, being that above lies a tough level at 1.6000. Therefore the focus should not shift from 1.5839 (55 and 200 day ma). Additional support is provided by 1.5805 and 1.5780/73.
EUR/JPY has ended its bearish correction and is presently well-placed to challenge 107.10. Once the latter level is overcome as well, resistance at 108.62 will be targeted next. Dips should be limited by 106.30, 105.73 and 104.62.
Even though at the moment EUR/USD seems to be directionless after unsuccessful attempt to breach 1.3000, in the long term the pair is deemed bearish, given a formidable resistance overhead at 1.3206 (55 day ma).
A tough resistance at 1.3207 (55 day ma) should be able to contain near-term rallies, while the downside risk for EUR/USD continues to increase. The initial support lies at 1.2974/54, followed by 1.2624.
EUR/JPY closes in a support at 104.24/103.50, where the currency pair is expected to commence recovery. The first resistance to encounter is at 106.65/107.00, breach of which will allow for gains up to 108.62.
Given that recent rally was tepid, the focus should remain on a support at 1.5830. In case this level is penetrated, a dip may extend down to 1.5599 or even 1.5412. From above the pair is capped by resistances at 1.5905, 1.5984/92 and 1.6037.
USD/JPY is likely to carry on crawling lower. It is about to close below 80.51, leaving 80.11 unguarded. Additional support is located at 79.34. Resistances, on the other hand, are situated at 81.20, 81.78 and 82.22.
As long as support at 0.9066/0.9000 remains intact, USD/CHF is perceived as bullish. Despite a failure to overcome resistance at 0.9200, the currency couple should be able to attain 0.9317/42 in the near future.
Violation of 0.9209 opened up the way towards 0.9317/42. Above the latter level the currency pair might set a goal at 0.9595. In the meantime losses should be contained by 0.9209, 0.9150 and 0.9085.
Given that USD/JPY has stabilised near 80.72 (55 day ma), bearish correction is soon to be over. However, there is still a slight chance of a drop down to 80.11 before bullish momentum is reignited.
The Cable had tumbled before it managed to test 1.6000 and is now targeting a support level at 1.5821, which guards 1.5599 and 1.5412. Apart from 1.6000, resistances are at 1.6037, 1.6062 and 1.6092.
For now the currency couple should be capped by a downtrend resistance line until 104.24/103.50 is reached, where recovery is likely to commence. Near-term rallies are to be contained by 107.10, 107.35 and 108.43.
EUR/USD has recently bounced off a resistance at 1.3204 (55 day ma) and penetrated a support at 1.3034. As an extension of its dip the pair is expected to fall down to 1.2974/54. Subsequent level is located at 1.2624.
USD/CHF remains under the effect of an encounter with a downtrend resistance line at 0.9215 and is presently trading lower. The currency pair is anticipated to fall down to 0.9066, but then resume inching higher once again.
USD/JPY seems to be terminating bearish correction, however, possibility of a drop down to 80.11 may not be excluded yet. In order to confirm emergence of an uptrend, the pair needs to climb above 82.00/42 first.
Despite persistence of the pair in challenging 1.60, it is not deemed as bullish enough to be capable of clearing out resistances that lie ahead. Therefore the Cable should decline in the long-term perspective.
EUR/JPY has halted its downward move, but this is viewed only as a very near-term tendency. Sustained rally is unlikely to appear on the chart before the pair encounters 104.24/103.50, then bearish correction will be considered to be over.