EUR/JPY fell sharply today as the ECB gave a record amount of loans - 530B of euros - to the European banks.
The pair plummeted today, breaching the daily forecast at 1.3409, as German Unemployment remain unchanged in January (0K act./-5K est.).
The initial support line for USD/CHF is situated at 0.8827. Subsequent levels may be found at 0.8788 and 0.8773. From above the pair is capped by resistances 0.9000 and 0.9066. Both near- and long-term outlooks are negative.
Provided that a key support area 80.00/79.55 withstands bearish pressure, USD/JPY is well-placed to challenge 81.49/63 in the short-term. Within a longer period the pair should be able to attain a level of 83.80.
Tough resistance zone at 1.5898/1.5927 did not manage to halt the pair. Therefore GBP/USD is now aiming for 1.6000. In case it overcomes the latter level as well, 1.6167 may be reached as well. Supports are located at 1.5901 and 1.5894.
As long as EUR/JPY currency pair remains above 107.01 (200 day ma), the outlook is positive. The initial goal for the price lies at 109.51, being followed by 110.18. Nonetheless, present bullish momentum is expected to fade ahead of 111.57.
At the moment EUR/USD is headed toward 1.3550 with a possibility to extend current bullish correction up to 1.3628. However, the latter level is unlikely to be breached. Dips should be limited by supports at 1.3436 and 1.3322.
The Swiss Franc continued appreciating today against the American dollar as employment in Switzerland slightly less than expected (4.04M act./4.03M est.).
The pair traded slightly above the 80 level as US consumer confidence improved in February.
The British pound edged slighly higher over the greenback as sales in the UK improved, according to the Confederation of British Industry (-2 act./-17 est.).
The single European currency moved higher today against the Japanese yen, piercing the 108.27 mean, due to more-than-forecast monthly CPI in Germany (0.7% act./0.5% est.).
The single European currency erased earlier weekly gains and breached the daily forecast mean at 1.3409 as the CB consumerc confidence index rose in the US (70.8 act./63.1 est.).
After climbing as high as 109.51/58 (55 week ma) EUR/JPY has stalled. Nonetheless, the bullish bias persists and is expected to fade only between 110.18 and 111.57. Supports may be found at 107.05, 106.78 and at 106.02.
USD/CHF is likely to continue on sliding down. In case 0.8940 is breached, support at 0.8788/72 may fall the next victim, giving the possibility of a dip down to 0.8568. From above the pair is capped by resistances at 0.9066 and 0.9088.
In the short-term EUR/USD currency couple is expected to continue ascending. Above 1.3480 the pair should aim for 1.3550, while 1.3628 is likely to prove to be impenetrable. Dips are to be contained by 1.3322 and 1.3293.
Encounter with a resistance at 81.49/63 resulted in a pullback of the pair. Despite this near-term weakness, upside momentum is expected to drive USD/JPY higher, up to 83.80. Supports lie at 80.00, 79.57/55 and 78.29/23.
Even though a zone at 1.5898/1.5927 is formed by a number of resistances, including 200 day ma, it is likely to be breached, as it poses no threat to the current bullish impetus. Intraday losses should be limited by supports situated at 1.5694 and 1.5650/43.
The pair still maintains its bearish momentum as investors acquired Swiss Francs on improving macroeconomic conditions in Europe.
Daily maximum: 81.48Daily minimum: 80.13USD/JPY advanced today on an increase in US monthly pending home sales, hitting the daily forecast mean at 80.89. Daily Resistance: 79.77; 81.62; 82.42. Daily Support: 80.34; 79.97; 75.51. Daily Bias: Strongly bullish.
The British pound inched lower today, breaching the 1.5843 mark today, as the US monthly pending home sales improved more than expected (2.0% act./1.1% est.).
The common European currency started the second week in a row with a rally, breaching the market participants' mean (108.65), as investors await successful vote in Germany on the second Greek package approval.
The pair touched the daily forecast mean (1.3436) today as annual change in M3 money supply has beaten analysts' estimate (2.5% act./1.8% est.).
USD/CHF has already slid to 0.8960 and is likely to maintain its southward direction. Initially it is expected to tumble down to 0.8788/71 (200 day ma) and eventually down to 0.8568. Rallies are capped by a resistance line at 0.9066/88.
In the nearest future USD/JPY may struggle at 81.49/63, however, in the long-term the pair is anticipated to continue advancing towards 83.80. Dips in the meantime should be limited by supports located at 80.00 and 79.57/55.