Failure to overcome resistance level at 111.57 might result in a dip, which is likely to extend down to a support at 108.20. Bullish outlook, nonetheless, should be preserved, as EUR/JPY is headed to 113.29.
Current bullish advancement of the pair is expected to come to an end near a strong resistance zone located at 1.3291/1.3325. Once EUR/USD is rejected by this area, it will recommence moving towards the long-term target at 1.2624.
The currency couple has failed to overcome 0.9148 and is now attempting to form a base near an immediate support located at 0.9110. This level is unlikely to withstand bearish pressure for long, as USD/CHF has been trading in a downward sloping channel since Mar 15 and there is little chance of a reversal in the nearest future.
Given a large amount of resistances USD/JPY is currently facing, it will take some time to erode the area from 83.52/84.20. Therefore the pair is likely to drop down to 82.90/77 first and only then current bearish correction will be deemed to be over.
Cable's bullish momentum has temporarily weakened, allowing for a dip down to 1.5780/74. Nonetheless, the pair should be able to regain strength at the latter level and recommence advancing towards 1.5949/66.
EUR/JPY has been trading flat today as it has been struggling with a resistance at 110.85. Being that the long-term outlook remains bullish, this level should be breached after the pair pulls back to and then rebounds from 110.01.
Despite the majority of indicators being bullish, EUR/USD has sold off to a confluence of supports at 1.3169/58, where it has managed to regain its upside momentum and commence rallying. The pair is thus expected to attain 1.3276/82 in the near-term and consolidate there.
USD/CHF has the potential to plummet down to 0.9066, which in turn should be able to halt bearish thrust. In order to restore bullish bias the currency pair will have to overcome an initial resistance at 0.9215/24 (20 day ma) first.
As long as a key support area at 82.40/81.90 remains intact, USD/JPY currency couple is viewed as bullish and should soon recommence advancing towards 85.53. On the way there the pair will encounter resistances at 83.98 and 84.51.
After breaching resistance at 1.5859 (200 day ma) the Cable might keep present bullish momentum until 1.5992 is reached. This would shift a focus to supports situated at 1.5773, 1.5755/45 and 1.5694, since the resistance is unlikely to give in.
EUR/JPY has pierced through 110.26 and is now likely to target higher levels - 111.57 in the short-term and 113.29 in the longer term. At the same time 107.93 should act as a line in the sand and prevent extensive dips.
EUR/USD should remain capped by a tough resistance located at 1.3291/1.3325, which is expected to contain near-term rallies. The immediate support on the other hand is at 1.3135, followed by a key level at 1.2974/54.
After stalling near 1.3184 in the first part of the day, the pair has managed to overcome this resistance. At the moment it is headed towards 1.3274, which may halt bullish advancement.
The currency pair has bounced off a tough support at 109.46/19 (55 and 100 day ma and an uptrend) and is about to test 110.60, which should cap EUR/JPY for now.
Being that the daily bias is neutral and the Cable is slowly inching towards 1.5902, rallies should not extend far above this level, due to a confluence of resistances slightly higher, which is situated at 1.5952/65.
USD/JPY has been trading today within a corridor formed by a resistance at 83.51 and a support at 83.09. Since this near-term consolidation is a part of a bearish correction, resistance at 83.70 should be challenged as soon as this pullback is over.
Support located at 0.9091 managed to withstand bearish pressure for now. However, the price might drop even lower, down to 0.0914, given its recent tendency.
As long as supports situated at 0.9141 and 0.9066 manage to withstand bearish pressure, long-term outlook will remain bullish for the currency couple. Resistances will be encountered at 0.9228, 0.9300 and 0.9317.
USD/JPY currency pair seems to be weakening in the short-term. This may allow for a drop down to 82.23. Nonetheless, support at 81.98/61 should be able to preserve the overall long-term bullish bias.
Despite the recent bullish momentum of the pair, which managed to drag it above 1.5810 (200 day ma), the rally is unlikely to extend beyond 1.5992. The immediate support may be found at 1.5773, while subsequent levels are at 1.5730 and 1.5689.
Being that resistance levels at 110.26 and 111.57 are rather strong, there is little chance they will be breached at the very first try. Dips are to be contained by supports located at 108.01, 107.61 and 105.00.
EUR/USD has bounced off 1.3000 and is now headed towards 1.3291/1.3325, where the pair is expected to stop advancing and terminate its bullish correction. Supports at 1.2974/54 and 1.2624 should thus be in focus.
USD/CHF went astray from its main upward course and has fallen through a tough support at 0.9203/0.9194. At the moment the pair is slowing down and is anticipated to form a temporary base ahead of 0.9123.
USD/JPY is currently eroding a cluster of supports at 83.43, which is now becoming a resistance. This dip should be contained by another support at 82.63, where the pair should veer.