Pair remains in the vicinity of 141 JPY and we expect it to remain here in the nearest future.
Regardless of breaching an important down-trend resistance line, USD/CHF seems to be lacking upward momentum to reach a key supply area near 0.89.
USD/JPY's thrust forward yesterday was negated later on, and the currency pair returned back beneath the 55-day SMA as a result.
The Cable turns out to be hesitant at the moment, as it neither extends the recent losses nor does it erase them, but gravitates towards 1.65 instead.
As suspected, the support at 1.38 was enough to prevent further depreciation of the single European currency.
Last week we saw some major movements, but at the end of the week it was trading basically at the same level where it started.
At the second part of the last week the pair gained some bullish momentum and broke monthly R1 at 1.1197.
Pair is demonstrated increased levels of volatility today, but seems to have stabilized and at the moment is posing to reach new 2014 high.
Pair started the week at the last week's closing level and peaked till weekly R1.
The exchange rate has successfully breached the down-trend resistance line at 0.88 and is therefore set to continue the rise, even though many of the technical indicators are presently bearish.
As expected, before re-challenging the 55-day SMA, USD/JPY returned back to the support at 102.
Given that that the Sterling has fallen beneath 1.65, there is a good chance that the bearish momentum has not yet been fully exhausted.
EUR/USD, despite its explicitly poor performance during the second part of the last week, seems to have stabilised at 1.38, namely at the major down-trend support line.
Throughout this week the pair has fluctuated between monthly R1 and weekly R1; however, at the moment it is trading right where it started on Monday.
USD/CAD has depreciated today, after it could not find a way how to trade above weekly R3 at 1.1262 for a third straight day.
Pair found support around 90 cent mark after failing slightly above 91 cent mark few days back.
Pair is starting to demonstrate bearish bias. As a consequence we could expect it to start the new trading week below the 100-day SMA.
As it turned out, the 1,5-month up-trend support line was not enough to prevent extension of the latest dip.
The Cable is testing a formidable support zone near 1.65 at the moment, which is mainly created by the 2011 highs and the 100-day SMA.
Although previously the 55-day SMA did not seem to play an important role in determining direction of USD/JPY, for the past two days it has been preventing further advancement of the currency pair.
USD/CHF is currently eroding the one of the key resistance levels.
It seems that the pair has lost its bullish momentum and we saw a notable decline yesterday.
USD/CAD has extended its advance and at the moment it is trading around weekly R3 at 1.1262.
Pair failed to consolidate above 91 cent after reaching 2014 high yesterday and plummeted below 90 cent mark.