In order to reignite bullish momentum and surge up to 0.9500/46 the currency pair has to penetrate resistance at 0.9400. Dips, however, should be limited by support lines located at 0.9320, 0.9200 and 0.9170.
The short term support is at 77.50, ahead of 77.12, while resistances may be found at 78.20/50 and 79.52. In case USD/JPY reaches a record low at 75.56 it is likely to rebound from this level and recover.
For the moment the pair is directionless, while its movement is being restrained by the boundaries of a 1.5778 - 1.5407 corridor. The initial resistance and support lines are at 1.5650 and at 1.5580, respectively.
Even though the current bias for EUR/JPY is rather bearish, a close above 102.48 could invoke a bullish movement that may extend up to 104.00/95, while a tough support area situated at 100.74/00 should prevent the pair from going lower.
From above the currency pair is capped by resistances located at 1.3118, 1.3160/96 and 1.3281, the latter being a key one. Since the outlook remains bearish for the price, the focus is on supports at 1.3053, 1.2947 and 1.2873.
The American Dollar - Swiss Franc currency pair hovers just above an immediate support line at 0.9356, while a subsequent level is at 0.9318 (22 day ma). In case USD/CHF surges, it will encounter resistances at 0.9381, while a key level is at 0.9545.
The price remains below a downtrend at 78.04, implying that the bearish impetus might strengthen, even though USD/JPY is currently underpinned by 77.96. Should the initial support be broken, 77.83 will be reached next.
The Cable has quickly sold off from 22 hour ma and is now heading toward 1.5596, which is likely to hold for some time. Although in the longer term this should be breached. A key resistance is situated at 1.5665.
While being capped by a cluster of resistances at 101.84 (22 hour ma and a downtrend), the pair is unlikely to show extensive rallies. On the contrary, it is expected to fall down to 101.76 first and then breach this level before stepping lower.
Resistance level at 1.3059 has successfully repelled EUR/USD currency pair, therefore the price is likely to dip down to a support located at 1.3041/38. In case the latter level is breached, the next target will be situated at 1.2950.
USD/CHF is trading higher after the US durable goods sales rose by 3.8% in November versus expected 2.2%, causing the market participants' forecast consensus at 0.9360 to breach.
The American dollar traded above the 78.00 level as investors remain confident the US economy is on the right of recovery, therefore the daily forecast mean at 78.13 has been approached.
The British pound slightly slumped on less than expected Mortgage Approvals; this indication of a weak property market caused the price to cross the daily forecast mean 1.5682.
The common European currency inched lower today on announcement the ECB might launch QE if the inflation risk occurs. The daily mean target at 101.99 has been pierced.
The market forecast mean at 1.3049 was not reached today as investors positively perceived the Italian vote on austerity measures.
While being capped by a resistance line at 0.9399 USD/CHF is likely to slide down, although dips are not expected to extend below a tough support located at 0.9065. Should, on the other hand, resistance at 0.9399 be penetrated, the rally may reach 0.9547.
USD/JPY is likely to continue trading within a corridor formed by a support at 77.49 and by a resistance at 78.28, therefore the outlook is neutral. In case the latter level is violated, the price might target 78.84 next.
The British Pound - American Dollar currency pair is anticipated to act calmly on Friday. The initial resistance is situated at 1.5779, while support at 1.5557 is likely to halt downward movement.
While a key resistance located at 102.98 is intact, the bias will remain bearish for the currency pair. At the moment EUR/JPY is heading toward 101.04, a break of which will imply the possibility of decline down to 99.92.
EUR/USD's outlook is still negative, as the pair is likely to carry on falling from 1.4246. Resistance should prevent the price from advancing, while a breach of the immediate support at 1.2946 would indicate a further selloff down to 1.2873.
As long as the price does not close higher than 0.9400/15 the outlook will remain neutral. Current dip may extend down to 0.9176/74 and 0.9095 (55 day ma), where a long-term recovery is expected to commence and should last until 0.9776/84.
USD/JPY has come through a key resistance at 78.06 and is now en route to 78.47. Should the pair climb even higher it might encounter 79.04 (200 day ma) and 80.00 (55 week ma). Supports, on the other hand, may be found at 77.34/29, 77.15/12 and 76.22.
Resistance level at 1.5752 (55 day ma) has halted recovery of the Cable, increasing the possibility of the pair coming back to an uptrend at 1.5443/29. Subsequent supports lie at 1.5347 and 1.5347.
EUR/JPY currency pair is capped by strong resistances situated at 102.30/49, 104.71 and 105.32, therefore the bias is rather bearish. The price is presently heading toward 100.77, then it should reach 99.92.