Although there are considerable downside risks present at the moment, USD/JPY is consistently respecting the down-trend support that connects the most notable peaks (May 22, Jul 7, Aug 23) and the most recent valleys.
The Cable turned around ahead of the lower boundary of the bullish channel it has been forming for the past three months and now is attempting to recover; however, appears to be struggling at the weekly PP.
EUR/USD is currently testing the weekly pivot point at 1.3564, but may come down to 1.3516.
Pair started the week in a rather calm manner and remains in the vicinity of 0.83.
Monthly PP failed the pair which found support with the 200-day SMA.
Pair remains rather calm as it is trading around 94 cent mark
Pair maintains the bearish trend and once again dipped to 131.4.
Due to the spot price's proximity to a tough support area around 0.8930 it hesitates to move south.
Although a month ago USD/JPY successfully broke out of the symmetrical triangle that is started to form in the mid-May to the upside, the U.S. Dollar did not continue to gain value, as one would reasonably assume, but weakened instead.
As expected, the Sterling was unable to keep the accelerated pace of appreciation relative to the buck and declined.
The up-trend resistance line at 1.3650 did not allow the Euro to approach the February high last week, but the currency pair is still poised for gains, being that is it strongly supported by 1.3505/1.3482.
It seems that 1.035 will remain an unbreachable area for the pair for the time being.
Pair seems to have successfully managed to advance above 94 cent mark.
Pair failed at weekly and monthly PP/20-day SMA as is slowly trailing lower.
Pair continues to demonstrate lack of bullishness as for the past few weeks it has not advanced above 0.835.
After yesterday's bearishness of USD/CHF the only notable support level that separates the spot price and the lows seen in February of 2012 is the weekly S2 at 0.8954, which is unlikely to resist the downward momentum for long.
The supports continue to resist immense selling pressure, but are slowly being eroded. Yesterday USD/JPY closed beneath the up-trend support that connected the troughs since this year's February.
The resistance at 1.6240 keeps on denying the Cable access to higher levels, such as 1.6313/1.6288, where the upper trend-line of the rising channel stands, and 1.6456/1.6390, which is mainly formed by the January high and the monthly R1.
The weekly R2 has already fallen victim to the bullish appetite of EUR/USD and in the nearest future the R3 at 1.3655 is likely to be devoured too, being that the currency pair is aiming for 1.3711.
Pair's dip to 0.82 provided so needed impetus to advance to 0.83.
It seems that 1.035 it causing more trouble than anticipated.
For the past 3 days pair has been struggling with 94 cent mark.
Pair bounced off the 55-day SMA, at the moment is trading at the weekly and monthly PP and is testing 20-day SMA.
Being that USD/CHF has just breached the falling support line and at the moment is changing hands near the February lows, it thereby runs the risk of falling even lower, down to 0.8930.