USD/JPY has just encountered the resistance at 105.20/104.92 and it is therefore set to decline in the near-term regardless of the bullish signals on the weekly and monthly charts.
Similarly to EUR/USD, the Cable ignored a notable level and it is now quickly approaching 1.6468/51.
Although EUR/USD was expected to move away from the dense resistance area at 1.3713/04 down to the 55-day SMA, the currency pair is currently trying to erode the nearest resistance.
"Higher U.S. bond yields could also destabilize risk assets, particularly those in emerging markets. That could prompt investors to buy safer currencies, including the dollar."- CNBCPair's OutlookBeing that 0.8215/00 did not manage to prevent further depreciation of the New Zealand Dollar, the rate is moving lower at an accelerated pace. The closest support is at 0.8144/43, but we would rather
For the time being the up-trend at 1.0609 copes with the selling pressure, meaning the currency pair may still launch yet another attack on the 2010 highs at 1.0701/1.0693.
"My view is that the dollar is still in an uptrend and is likely to rally further in 2014."- Marshall Gittler, IronFX (based on MarketWatch)Pair's OutlookGiven that the resistance at 0.8925/03 denied an attempt of AUD/USD to rise further, the bearish channel (in place since Oct 23) retains its topicality. Accordingly, this substantially increases the probability of a new low
"The fact that BOJ members are concerned that improvement in growth, jobs, and consumer prices may not be as robust as before signals they will take some kind of measures going forward."- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)Pair's OutlookAmong the nearest resistances, neither the weekly R1 at 143.12 nor the weekly R2 at 143.96/91 are expected to hinder
After hitting 0.8930/26 USD/CHF right now is slowly grinding towards 0.8976.
While the activity in most of the major currency pairs is currently sluggish, USD/JPY is quickly closing the gap between the spot and the resistance at 105.04/104.92.
Despite a high probability of a decline, the Cable managed to gain a toehold above 1.6348/43, which allowed it to challenge the January high.
The risks are presently heavily skewed to the downside, given that EUR/USD is trading just beneath the tough resistance.
NZD/USD has just eroded the support area at 0.8215/00, which consists of the important in the past highs and lows and the monthly PP.
Being that the up-trend that may be drawn though the valleys charted since the end of October still remains intact, USD/CAD retains a bullish bias in the near-term.
The bullish momentum AUD/USD received at a key support has noticeably weakened in the presence of the monthly S1 at 0.8925.
EUR/JPY continues to respect the accelerated up-trend and is therefore poised for more gains in the future.
Although an attempt to overcome the monthly S1 resulted in a strong sell-off, the decline seems to have been stopped by the support at 0.8936/29.
The pair managed to find sufficient support at 103.74/72 yesterday and it has already closed above the monthly R1.
GBP/USD failed to settle above the resistance at 1.6348/43 yesterday and is thereby looking in the direction of the support at 1.6204/1.6199.
As expected, the resistance at 1.3711/1.3695 is keeping the bulls at bay and is likely to prevent further appreciation of the Euro.
Pair seems to be somewhat range bound, like it was in the end of the last week.
Pair showed initial bullishness, but failed at 1.065 which lead to a dip below 1.06.
Pairs seems to be fully pledged to the recovery as it continues to show bullish signals after the weekend.
Although the pair fails to gain pace, it continues to demonstrate willingness to inch up higher.
Being unable to pierce through the resistance implied by the monthly S1 last week, USD/CHF returned back to 0.8943/29.