Daily Market Overview: EUR/JPY

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
Daily maximum: 109.63
Daily minimum: 108.58

EUR/JPY has breached a support at 108.92/96 and is now struggling to return above this level. This temporary weakness of the pair is seen as a bearish correction within a larger upward channel and tough support zone situated at 107.97/107.57 should be able to contain dips and preserve bullish outlook.

Daily Resistance: 108.96/109.07; 109.55; 109.96.
Daily Support: 108.72; 108.56/50; 107.97/107.57.
Daily Bias: Strongly bullish.

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Thu, 15 Mar 2012 20:18:56 GMT

Daily Market Overview: GBP/USD

Downside momentum of the pair has lost strength and the Cable is currently testing resistance at 1.5678/81. However, the pair is capped by a stronger level at 1.5713/27, approach to which may reignite bearish behaviour.

Thu, 15 Mar 2012 20:08:57 GMT

Daily Market Overview: EUR/USD

After forming a descending wedge on a 1-hour chart, EUR/USD has rallied up to 1.3075. However, this bullish move is likely to be short-lived, since the pair is now facing a formidable resistance area at 1.3119/49, while most of the indicators reinforce this view.

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