Despite the fact that 78.25/30 has repelled USD/JPY, the outlook remains positive for the pair. Resistances situated at 76.75 and 76.20 are expected to withstand bearish pressure and help commence recovery of the currency couple.
GBP/USD eyes 1.5770/80, although the current bullish impetus is too weak to be able to challenge this resistance level. Therefore the focus is on 1.5659 with an additional support located at 1.5570/45.
After encountering a tough resistance at 1.3245/50 the currency pair is expected to fall, though the dip should halt near 1.3070. In case the pair surges above 1.3245/50, bullish momentum may last until 1.3437 is reached.
The shared European currency depreciated versus the American dollar today and pierced the daily forecast mean (1.3122) the EU annual M3 money supply was released lower than expected (1.6% act./2.2% est.).
EUR/JPY moved downwards today, missing the daily market participants' target (101.66) as the annual retail sales rose (2.5% act./2.3% est.).
The British pound rose versus the American dollar after on announcement Greece is close to get the debt deal, piercing the daily forecast mean at 1.5689.
USD/JPY declined on Friday after Japanese annual retail sales rose more-than-forecast (2.5% act./2.3% est.), leaving the daily market participants' target (77.49) intact.
The pair traded below 0.9200 level today as the US advange GDP disappointed investors (2.8% act./3.0% est.).
Being that USD/CHF has violated support at 0.9250, the price is expected to fall down to 0.9080/65. The latter level should provide sufficient support and halt bearish movement. In the long-term USD/CHF should aim for 0.9775.
As long as a key support at 76.70/20 is not violated, the outlook will stay bullish for USD/JPY. The currency couple did not manage to breach resistance at 78.25/35 (200 ma) and is thus likely to step lower.
The Cable is expected to soar up to 1.5770/80, after it breaks though 1.5680 resistance. The initial support may be found at 1.5618, while subsequent lines are located at 1.5579 and 1.5544.
Resistance at 102.55/60 should be able to withstand attempt of EUR/JPY to step over it. Nonetheless, the currency pair has to overcome this resistance to confirm long-term bullish trend. Supports at 100.75 and 100.55 should cover dips.
Bullish impetus is weakening ahead of tough resistance area at 1.3200/50. Rally may extend up to 1.3245/50, although further advancement is highly unlikely. Thus the attention is on the support lines at 1.3025 and at 1.2930.
USD/CHF committed a much deeper correction today, leaving the daily market participants' (0.9242) untapped as investors were disappointed by poor data on US new home sales (307K act./321K est.).
USD/JPY advanced on strong monthly Core Durable Goods Orders (2.1% act./0.9% est.), though the daily forecast mean (77.84) has not been pierced yet.
GBP/USD continued its rally as the American dollar weakened on less-than-forecast US New Home Sales (307K act./321K est.).
101.71 was hit today as the pair moved upwards on higher than expected GfK German Consumer Climate (5.9 act./5.6 est.).
EUR/USD rose today on disappointing US unemployment claims (377K act./371K est.), causing the daily forecast mean (1.3067) to breach.
The short-term outlook for USD/CHF is negative. The pressure on a key support at 0.9200 is increasing. In case it does not withstand, a fall might extend down to 0.8895 (55 week ma). Resistances at 0.9315 and 0.9340/55 cap the pair from above.
Resistance area at 78.25/35 (200 day ma) has repelled off USD/JPY, sending it down to a cluster of supports at 77.40/20 (55 and 100 day ma). From there the pair is expected to recover and attempt to challenge resistances 79.50 and 80.00.
In case the Cable is unable to climb over a downtrend line at 1.5680, the bias will turn bearish. The possibility of GBP/USD going down to 1.5500 en route to a long-term at 1.5270 will then increase.
EUR/JPY currency pair is about to hit a strong resistance situated at 102.56/63. In case the latter level is breached, the price might increase up to 104.25. Dips should be covered by supports at 100.77 and 100.40/30.
The currency couple has already penetrated resistance at 1.3075 and is presently moving toward a tough zone located at 1.3140/45. However, this area in conjunction with 1.3245/50 is unlikely to allow EUR/USD to advance any further.
USD/CHF traded lower today after pending monthly home sales disappoined investors (-3.5% act./-0.6% est.), touching the daily target at 0.9273.