The Cable is gaining bullish impetus and may carry on advancing toward 1.5950 (200 day ma). In case this resistance is breached, we may observe a rally up to 1.6170. Supports are at 1.5730 and at 1.5640.
Recent failure to overcome 102.55 signifies weakness of the pair which is likely to continue sliding down. The initial support is at 98.90, while subsequent levels will be encountered at 98.80 and 97.04.
Upward correction is expected to end in the nearest future, since the pair is approaching an impenetrable for now resistance located at 1.3250. This in turn implies a sell off down to 1.3000 en route to a lower level at 1.2930.
The pair slightly rebounded today as the US unemployment claims declined (367K act./373K est.), hitting the daily forecast mean at 0.9166.
The Japanese Yen appreciated against the American dollar on rumors the Japanese government will intervene, crossing the 76.20 target.
The British pound commenced a correction today and broke through the daily forecast mean (1.5813) on poor UK construction PMI (51.4 act./52.8 est.).
EUR/JPY moved downwards today on more-than-expected Japan's annual monetary base change (15.0% act./14.6% est.), causing the market participants' forecast (100.13) to breach.
The shared European currency traded flat today as the market is awaiting the Greek debt deal resolution; the daily forecast mean (1.3140) has been pierced.
In the short-term USD/CHF is likely to move sideways, supported by 0.9080/65. To reignite bullish impetus, however, the pair is needed to climb above 0.9245/50, then it might advance to 0.9340 and higher.
En route to 1.6170/90 (200 week ma) the Cable is going to encounter an initial resistance at 1.5890 and a subsequent level at 1.5960 (200 day ma). Supports at 1.5640/35 and 1.5570 should prevent GBP/USD from extensive dips.
A tough resistance area at 102.55/60 is unlikely to let EUR/JPY rally in the nearest future, pushing the pair down toward 99.00/98.90. A close below the latter level may prompt additional weakness which may last until 95.00 is reached.
Despite pair's recent determined advancement, EUR/USD is expected to remain capped be a key resistance line located at 1.3245/50. In case this level is penetrated, 1.3436 and 1.3627 may become the next preys.
The pair attempted to rebound though it pierced the 0.9189 daily target after the release of ISM manufacturing PMI figure (54.1 act./54.6 est.).
The American dollar traded below the 77.00 mark against the Japanese yen as the pair as weak ADP non-farm employment change (170K act./189K est.) disappointed investors.
GBP/USD continued yesterday's rally on more-than-forecast Manufacturing PMI (52.1 act./50.1 est.), breaching the daily market participants' mean (1.5754).
The pair rebounded today despite the fact the annual average cash earnings were released higher than expected (-0.2% act./-0.3% est.), causing the pair to pierce the daily forecast mean (99.97).
The single European currency advanced today versus the American dollar, piercing the daily forecast (1.3103) as the gap between the German / peripheral Eurozone countries bond yields narrowed.
The currency couple has held above 0.9192 (100 day ma) and is expected to crawl higher. In case USD/CHF climbs over 0.9230, bullish impetus may strengthen, allowing for gains up to 0.9400 or even 0.9435.
USD/JPY continues to trade near a key support line situated at 76.00. In case it is violated, the next level at 75.35 will come into play. From above the currency pair is capped by resistances at 77.50 and 77.80.
The Cable's bullish momentum seems to be weakening ahead of resistance area at 1.5770/80. Subsequent levels are at 1.5810 and 1.5890. Dips should be limited by supports located at 1.5640 and 1.5520.
After bouncing off a formidable resistance at 102.55/60, EUR/JPY is likely to maintain its current southward course. On its way down the pair will encounter supports located at 99.00/98.90 and 98.80/75.
The initial support is located at 1.3000, this level is rather strong and is unlikely to be broken at the very first attempt. Resistances, on the other hand, may be found at 1.3243 and 1.3387.
The pair pierced the market participants' target (0.9167) as UBS consumer confidence increased to 0.92, comparing to previous 0.78 level.
The Japanese yen appreciated today on more-than-expected annual household spending (0.5% act./-0.1% est.) and strong preliminary industrial production (4.0% act./2.8% est.) after touching the daily forecast mean (76.41).