The pair crossed the 78.00 level and left the daily forecast mean (77.54) intact as the Japanese currency depreciated on the first trade balance deficit in almost 30 years.
The British pound erased earlier weekly gains after touching the market participants' mean (1.5602) on lower-than-expected final GDP (-0.2% act./-0.1% est.).
The shared European rose today versus the American dollar as the German Ifo Business Climate Index rose today despite the recession fears, leaving daily forecast mean (99.15) intact.
The shared European currency weakened versus the greenback and breached the daily forecast mean (1.3022) as the ECB opposed to accept losses on Greek government bonds.
Following a dip down to 0.9250/02 USD/CHF is expected to recover, however, a close above 0.9395 is needed to restore bullish momentum. Resistances at 0.4910/50 and at 0.9572 cap the pair.
USD/JPY currency couple has penetrated a number of resistances and is anticipated to continue rising. The initial goal for the pair is at 78.29/37 (200 day ma). Above it USD/JPY will encounter 79.49 (55 week ma) and 80.00, should it extend its current rally.
The Cable is now trying to break through a formidable resistance located at 1.5635. This attempt is expected to fail and result in GBP/USD sliding down to 1.5272. In case bearish impetus strengthens, supports at 1.5156 and 1.4260/29 may be reached.
The Euro - Japanese Yen currency pair has effortlessly pierced through a resistance zone at 100.45/77 and is now headed toward 102.55/60. The initial support lies at 100.77 and should limit possible losses.
EUR/USD is attempting to consolidate above a key level at 1.30. Resistance at 1.3077 has halted pair's advancement, although above it the price is likely to target 1.3145. Supports may be found at 1.2863/40 and 1.2800.
The Swiss Franc continued appreciating versus the American dollar as the economic outlook in Europe improves, causing the daily target at 0.9293.
After touching the daily forecast mean at 76.99, USD/JPY moved upwards after the Richmond Manufacturing Index rose more than expected.
The British pound rose today versus the American dollar and breached the 1.5563 level after the Public Sector Net Borrowing rose less than expected.
The shared European currency stayed above the 100 level on strong macroenomic data from the Eurozone today, causing the market participants' target (100.04) to breach.
The pair moved below the 1.30 level, piercing the daily forecast mean after the US hedge fund sold euros on rumors Greek will not agree on its debt deal.
USD/CHF has come under 0.9304 (55 day ma) and may continue to weaken until 0.9250/02. In the longer term perspective, the pair might decline to 0.9080/66. Moreover, a possibility of a dip down to 0.8897 cannot be ruled out as well.
The currency couple is slowly crawling away from 76.65. In the short-term it is still expected to challenge the resistances that lie ahead. The first one is at 77.50, followed by 78.40 (200 day ma) and 79.46 (55 week ma).
Resistance levels located at 1.5597 (55 day ma) and at 1.5643 should halt the Cable and send the pair down to 1.5272. Subsequent support is at 1.5156, in case it is breached, GBP/USD will fall down to 1.4260/29.
EUR/JPY is already in the vicinity of 100.45/77 and is anticipated to carry on advancing. Although this rally is highly unlikely to be able to pierce a fairly strong resistance zone situated at 102.55/60.
As expected, the currency pair has managed to attain its initial target at 1.30. The current bullish outlook is likely to last until 1.3245 is reached, though a resistance area at 1.3077/1.3145 will have to be penetrated first.
The bearish correction of USD/CHF strengthened today as the risk appetite comes back to Europe on news Greece has persuaded private bondholders to take losses.
The American dollar spiked the 77.00 mark against the Japanese yen, hitting the daily forecast mean (77.05).
The British pound appreciated on versus the American dollar after the UK government announced new guarantees to stimulate the local housing market, leaving the daily forecast mean (1.5471) intact.
The bullish correction of EUR/JPY continued today on rumors Greece will get its debt deal on time, piercing the 100.00 level.
The shared European currency broke the 1.30 level on rumors Greece has almost agreed on the debt accord with the private bondholders.