1.5702 target was hit today on less-than-forecast UK M4 money supply (-1.4% act./0.3% est.).
EUR/JPY embraced losses today as weak macroeconomic data from the Eurozone discouraged investors; thus, the daily forecast mean (101.50) remained intact today.
The shared European currency lower today against the American dollar today and pierced the daily forecast mean (1.3146) on weak French consumer spending (-0.7% act./0.3% est.) and German retail sales (-1.4% act./0.9% est.).
The currency couple is anticipated to stabilise near 0.9080/65 and commence recovering. A break of resistance at 0.9185 would reignite bullish momentum which in turn would drag the pair up to 0.9340.
Support line at 76.22 is being pressured at the moment. Nonetheless, it should remain unbroken and defend subsequent levels - 75.31 and 75.00/74.90. In the long-term USD/JPY is perceived as bullish despite its current weakness.
GBP/USD is expected to make an attempt to break through a tough resistance situated at 1.5770/80. In case the currency pair is successful, it will target 1.5810 and 1.5964 next. Supports at 1.5645 and 1.5570 should cover losses if any occur.
EUR/JPY did not manage to challenge a strong resistance area at 102.55/60 and is now selling off. The initial support level is located at 99.00/98.90, though the dip might extend down to 97.05.
A close below 1.3120 would indicate the end of bullish correction and continuation of Euro's depreciation. The price should then fall to 1.2900/1.2855 and eventually tumble down to 1.2530/90.
The British Pound declined today after touching the daily forecast mean (1.5710) as the US m/m personal income (0.5% act./0.4% est.) and monthly Core PCE Price Index rose (0.2% act./0.1% est.) continues its recovery as the annual inflation index was released in line with economists forecast (4.2% act./4.2% est.).
101.24 was touched today though the pair erased earlier gains as Greece did not close the debt deal on Monday.
EUR/USD commited a decline today as Merkel said no Greek creditor deal will be closed today; it caused the pair to pierce the daily mean (1.3191).
The pair traded lower today on less-than-expected monthly change in personal spending (0.0% act./0.2% est.), leaving the market participants' daily target (76.86) intact.
The American dollar continued trading in a bearish trend versus the Swiss Franc today as monthly change in US personal spending disappointed investors, causing the pair to hit the 0.9143 target.
USD/CHF is anticipated to maintain its current southwards course toward 0.9080/65. This level should provide sufficient support and will not be breached. Resistances are at 0.9220 and 0.9320.
Despite the fact that 78.25/30 has repelled USD/JPY, the outlook remains positive for the pair. Resistances situated at 76.75 and 76.20 are expected to withstand bearish pressure and help commence recovery of the currency couple.
GBP/USD eyes 1.5770/80, although the current bullish impetus is too weak to be able to challenge this resistance level. Therefore the focus is on 1.5659 with an additional support located at 1.5570/45.
After encountering a tough resistance at 1.3245/50 the currency pair is expected to fall, though the dip should halt near 1.3070. In case the pair surges above 1.3245/50, bullish momentum may last until 1.3437 is reached.
The shared European currency depreciated versus the American dollar today and pierced the daily forecast mean (1.3122) the EU annual M3 money supply was released lower than expected (1.6% act./2.2% est.).
EUR/JPY moved downwards today, missing the daily market participants' target (101.66) as the annual retail sales rose (2.5% act./2.3% est.).
The British pound rose versus the American dollar after on announcement Greece is close to get the debt deal, piercing the daily forecast mean at 1.5689.
USD/JPY declined on Friday after Japanese annual retail sales rose more-than-forecast (2.5% act./2.3% est.), leaving the daily market participants' target (77.49) intact.
The pair traded below 0.9200 level today as the US advange GDP disappointed investors (2.8% act./3.0% est.).
Being that USD/CHF has violated support at 0.9250, the price is expected to fall down to 0.9080/65. The latter level should provide sufficient support and halt bearish movement. In the long-term USD/CHF should aim for 0.9775.
As long as a key support at 76.70/20 is not violated, the outlook will stay bullish for USD/JPY. The currency couple did not manage to breach resistance at 78.25/35 (200 ma) and is thus likely to step lower.