Even though bearish momentum seems to be weakening, intraday rallies of the currency couple should remain tepid due to a formidable resistance area located at 1.3192/1.3291. Support at 1.2624 remains as the long-term target.
USD/CHF has dipped below 0.9254/62 and is now challenging a support line at 0.9226. In case the latter level gives in, the pair should bounce off 0.9183/80 afterwards.
USD/JPY is presently in the process of making a short-term bearish correction before it recommences to advance. Even if a strong support located at 83.36/22 is breached, subsequent level at 83.00/82.88 should ensure that the pair keeps long-term bullish bias.
Downside momentum of the pair has lost strength and the Cable is currently testing resistance at 1.5678/81. However, the pair is capped by a stronger level at 1.5713/27, approach to which may reignite bearish behaviour.
EUR/JPY has breached a support at 108.92/96 and is now struggling to return above this level. This temporary weakness of the pair is seen as a bearish correction within a larger upward channel and tough support zone situated at 107.97/107.57 should be able to contain dips and preserve bullish outlook.
After forming a descending wedge on a 1-hour chart, EUR/USD has rallied up to 1.3075. However, this bullish move is likely to be short-lived, since the pair is now facing a formidable resistance area at 1.3119/49, while most of the indicators reinforce this view.
Provided that the currency couple breaches a resistance at 0.9317, a way towards 0.9595 will be opened. Even though 0.9342 may somewhat slow down the movement, there are no more considerable obstacles.
Following a rapid rally of USD/JPY beyond 83.80, it is should calm down for a moment, thus intraday outlook is neutral. Nonetheless, the overall picture suggests continuation of the uptrend with further goals set at 85.53 and 86.80.
For now GBP/USD is capped by a tough resistance level at 1.5721/1.5833, which should be able to halt near-term rallies. Therefore the bias is bearish for the pair with targets at 1.5524 and 1.5397.
In order to maintain its bullish momentum EUR/JPY has to trade above a support located at 107.15. The price has already attained 109.32/58 (55 week ma) and is likely to make a short-term correction there before it recommences to advance.
EUR/USD has pushed through a support at 1.3055 (55 day ma) and is now being underpinned by 1.3000. Even though the currency pair might rally to some small extent, afterwards it should fall down to 1.2974/54.
USD/CHF stays in an upward sloping channel and is now struggling at 0.9317/30, which should withstand the bullish pressure and send the pair back to 0.9276.
USD/JPY's strong bullish momentum shows no signs of weakening, implying further apreciation of the US Dollar relative to the Japanese Yen, even though the pair is now facing a tough resistance at 83.95.
The Cable has confirmed a resistance at 1.5727 and should now move to a downtrend line at 1.5563/57, which, in turn, should halt bearish momentum.
The currency pair has bounced off a confluence of resistances at 109.20/25 and is likely to slide down for the rest of tha day. However, a support area at 108.47/27 (55 and 100 hour ma) should contain dips.
EUR/USD continues to trade below an accelerated downtrend and is forming a falling wedge on a 1-hour chart. In the nearest future it is expected to bounce off a support at 1.3033/23 and advance towards 1.3107/32.
In the nearest future the US Dollar is expected to carry on appreciating relative to the Swiss Franc. As a result, USD/CHF is likely to move northwards. The initial goal is at 0.9317, while a subsequent target lies at 0.9595.
USD/JPY breaking through a resistance at 82.83 reinforces the view that the currency couple is aiming for 83.80 in the longer term. Supports are located at 82.23, 81.87 and 81.15, though a key level is at 80.94.
Even though GBP/USD has rallied from a support at 1.5650/43, the bias for the Cable remains bearish, due to a tough resistance area situated at 1.5752/1.5833. Additional supports may be found at 1.5599, 1.5581 and 1.5500.
An uptrend line at 106.89 should contain short-term dips, while the overall outlook for EUR/JPY is positive. After overcoming 108.75 the currency pair is anticipated to target 109.32/58 (55 week ma) next.
EUR/USD is currently headed towards 1.3055, which is unlikely to be able to negate bearish momentum. Therefore the next levels in focus are expected to be 1.2974/54 and 1.22624. From above the pair is capped by resistances located at 1.3192/1.3291 and 1.3487.
Strong bullish impetus of the currency pair has been stopped by a strong resistance located at 0.9237/41, turning daily bias to neutral. Now the price should target support at 0.9140/29.
Daily maximum: 82.85Daily minimum: 81.96After USD/JPY rebounded from an uptrend at 82.10, the US Dollar continued to appreciate relative to the Japanese Yen and is expected to do so for the time being.Daily Resistance: 82.75; 82.90/98.Daily Support: 82.56; 82.38/15; 81.92/90.Daily Bias: Bullish.
Bearish momentum of the Cable has weakened, allowing the pair to bounce off a support at 1.5603/5583. However, the current rally is likely to be tepid and halt near a tough resistance located at 1.5742/56.