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.
Even though EUR/USD has bounced off a support at 1.3035, it is expected to remain capped by resistances at 1.3207 (55 day ma), 1.3338 and 1.3385. Bearish momentum should be reignited near one of those levels, resulting in a dip down to 1.2974/54 within the next month.
The US Dollar seems to be weakening against the Swiss Franc after USD/CHF has encountered a formidable resistance at 0.9221. Accordingly, the pair is expected to slide further, down to 0.9110/0.9066, where it will have a greater chance to stabilise.
In the short-term the currency couple remains bearish, as it is likely to break a support at 80.56 and dip down to 80.11 preceding to a robust recovery. Resistances are situated at 81.87, 82.00 and 82.52.
Advancement of GBP/USD, which started at 55 day ma at 1.5827, is viewed as being limited by resistances located at 1.5935/65 and 1.6062. Additional support level, on the other hand, may be found at 1.5805/03.
The pair is presently making a bullish correction near 105.93/65 before another leg down to 103.50. The latter level is likely to provide sufficient support in order for EUR/JPY to commence recovering from there.
EUR/USD is currently recovering from 1.3034, however, the rally is expected to be tepid, given tough resistances at 1.3162 and 1.3207. Within the next few weeks the currency pair is deemed to be capable of breaching 1.2974/54 and falling lower.
USD/CHF disregarded the neutral sentiment and moved in line with persistent bearish trend, demolishing a cluster of supports at 0.9153/36. The pair presently is trading within the corridor formed by 0.9143 and 0.9137 but soon is likely to dip down to a support at 0.9128.