Tough resistances located at 104.62 and 105.34 should contain the pair from above, implying an increasing possibility of additional losses for EUR/JPY. Once a support at 102.55 is breached, 102.21 and 100.77 will be targeted next.
Given the presence of formidable resistances at 1.3000, 1.3055 and 1.3081, EUR/USD remains bearish, being that most of the indicators point to the downside as well. The initial target lies at 1.2809, followed by 1.2624.
Upward movement of the currency couple is unlikely to decelerate, since it has already cleared out April high. USD/CHF should now aim for 0.9317/42. Subsequent resistance level is at 0.9595 and may be reached within the next three months.
The currency couple is likely to remain bearish, given its inability to surge above a tough resistance at 80.55. The target is at 79.15/78.90, where USD/JPY may form a base and commence gradual recovery.
GBP/USD has overcome its temporary feebleness and should attempt to violate resistances at 1.6298 and 1.6330, before challenging a key level at 1.6425. Bullish bias will be preserved as long as support at 1.5980 is intact.
EUR/JPY plunged down to 102.54 and we anticipate to observe tepid growth of the pair, which may last until 104.62 is encountered. Longer term outlook implies even more weakness of the Euro relative to the Japanese Yen.
EUR/USD has breached a support at 1.2954 and is likely to consolidate in near future. Afterwards, however, the pair is expected to remain bearish and hunt for even lowers levels - 1.2809 first, then 1.2624.
USD/CHF is expected to maintain its current upward direction and attain 0.9317/42 en route to 0.9595. In the meantime, losses should be limited by supports, which may be encountered at 0.9184, 0.9123 and 0.9066.
USD/JPY has recently traded flat and may still reach lower levels at 79.15/78.90 (55 week ma), given that a resistance line situated at 80.64 is a tough level. The latter level guards 82.30 and 83.31/39.
The Cable is currently consolidating before it recommences its advancement towards a long term target located at 1.6425. In the near future, however, GBP/USD may dip down to 1.6050 or even 1.5970 prior to bullish move.
While both weekly and daily biases are negative, risk of EUR/JPY falling down to 102.54 first, and then down to 100.12 increases. In the meantime the pair is capped by 104.62, ahead of which all the rallies should halt.
Once the initial support line at 1.2964 is breached, EUR/USD currency couple will be targeting 1.2624 next, which is presently guarded by 1.2809. Near-term resistances may be encountered at 1.3081 and 1.3180.
Being that USD/CHF has recently severed a resistance at 0.9176, the currency couple is well-placed for further gains up to 0.9317/42. In case the latter level is overcome as well, then the rally may extend to 0.9595.
USD/JPY is yet unable to breach a resistance downtrend at 80.74. Accordingly, the currency pair should slide down to a support at 79.15/78.90 (55 week ma), where the price will have a chance to commence recovery.
GBP/USD is currently weakening and may dip down to 1.6050 or 1.5954. However, this is viewed as a very short-term development before the bullish bias is reignited once again. Thus the long-term targets are at 1.6425 and 1.6570.
EUR/JPY has just bounced off 103.24 and is advancing towards resistances located at 104.62, 105.17/36 and 106.14, which are unlikely to fall easy preys to the pair. Therefore the focus is currently on supports, namely on 103.24 and 102.55.
A support at 1.2954 has managed to withstand the initial test, but, given the tepid rally afterwards, is expected to give in eventually. EUR/USD should be aiming for 1.2624, while being capped by 1.3081.
USD/CHF has effortlessly pierced through a resistance at 0.9176 and is currently moving towards 0.9317/42, which may be attained within the next month. Longer term target lies at 0.9595.
USD/JPY stays below an accelerated downtrend resistance at 80.84, implying that bearish bias should persist. Accordingly, the pair targets 79.15/78.90 (55 week ma), encounter with which, however, may reverse the price's course.
The Cable is presently undergoing a bearish correction, which should terminate ahead of 1.6050 or 1.5954. Afterwards the pair is expected to recover and aim for 1.6425, following antecedent penetration of 1.6336.
The currency pair has just pushed through 104.62 and may carry on trading lower until it reaches 102.54. Subsequent level is located at 100.12/00. From above EUR/JPY is likely to be contained by 105.00, 105.36 and 106.33.
EUR/USD has pierced though several supports and is currently in the proximity of 1.2954, breach of which will expose 1.2634. In the meantime, rallies should be capped by 1.3081, 1.3180 and 1.3264.
EUR/USD remained resilient yesterday after the European Central Bank kept its interest benchmark unchanged. However, the risk for the pair remains on the downside as the pair has not breached the 1.3230/1.3245 zone (55-day MA and upper Bollinger band). Therefore, the pair could test the 1.3100 support level today if the bearish mood persists further.
EUR/JPY failed to commence a bullish rally yesterday as it remains squeezed to the lower Bollinger band at 104.62. Key support remains at 104.25/23. A breakthrough downwards would pave the way to 102.54 level, the 61.8% retracement of the move seen this year.