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.
Failure to overcome 1.3184 indicates an end of the upward correction. At the moment EUR/USD is targeting 1.2860, while the long-term goal remains at 1.2089. Rallies should be limited by supports at 1.3145, 1.3184 and by 1.3212.
The pair continued moving upwards as the US economy posted the lowest jobless claims - 381,000 versus Bloomberg analysts' estimate 395,000 – indicating the jobs market in the US is improving. Thus, this has led to a breach of the forecast mean at 0.9246.
The pair continues trading within the 77-78.00 price corridor as the Japanese economic recovery remains fragile, though the forecast mean at 77.69 was hit today.
GBP/USD commenced the upward rally after the Bank of England kept its benchmark rate at the same level (0.50%) as the recovery remains weak. The daily forecast consensus at 1.5685 was breached today.
The Euro pierced the market participants' forecast at 104.16 against the Yen though it went lower as investors acquired yens on the EU debt concern.
The shared European currency advanced today as the pair continued its recovery after the ECB cut the benchmark rate at 1.00% and agreed to provide unlimited cash to banks for 3 years. As a result the traders' forecast mean at 1.3406 has been breached.
The American Dollar - Swiss Franc currency pair has penetrated an uptrend and is now heading toward 0.9176/74 after which it might aim for 0.9092 (55 day ma). The immediate resistance is at 0.9331/17, followed by 0.9400 and 0.9548/49.
The currency couple's bullish movement came to a halt once it approached 78.06/47, since tough resistances at 79.05 (200 day ma) and at 80.00 (55 week ma) lie ahead. Intraday dips should be limited by supports located at 77.29, 77.32/14 and 77.12.
GBP/USD's bullish impetus is to stay for a while. The pair is thus expected to surge up to 1.5748 (55 day ma) or even 1.5852. The bias will turn negative only provided that a key support situated at 1.5426 is violated.
As long as resistances at 102.49, 102.55 and 104.72 are not breached EUR/JPY is not anticipated to show a sustained bullish momentum. Therefore the initial target stays at 100.77, while a level of 99.92 should be approached next.
EUR/USD is currently recovering after encountering 1.2860, though this rally is unlikely to extend above 1.3210 and 1.3250/1.3442. In the long-term the pair is expected to pierce through 1.2860 and reach 1.2089.
USD/CHF currency couple is making a near-term correction lower which is not expected to step below 0.9319. Following a rebound from this support the price is anticipated to recommence its move up to 0.9776/84 and 0.9950.
USD/JPY is currently attempting to break through 78.10/47, though advancement of the pair will be also impeded by 200 day ma at 79.06 and 55 week ma at 80.00. Nonetheless, the long-term bias is positive.
Since the Cable is supported by a tough zone at 1.5443/23 and a level of 1.5347, the current recovery is likely to extend higher, though resistances at 1.5562, 1.5745 and 1.5780 will hamper its further movement.
The Euro - Japanese Yen currency pair keeps its bearish momentum for now while trading below a key resistance situated at 102.79. The initial target lies at 100.77, while subsequent level is at 99.92.
At the moment EUR/USD is underpinned by 1.2860, which will be breached in the short-term and pave the way for 200 month ma at 1.2089 to be reached. Rallies are expected to be capped by resistances located at 1.3145 and 1.3212.
The daily market forecast mean at 0.9369 has been hit as investors moved to the safer US assets as investors are concerned about the EU economic prospects.