Despite the Cable halting near a support at 1.5645, the bearish bias persists. GBP/USD is first expected to dip to 1.5615 (55 day ma), afterwards it should target 1.5580. Resistances located at 1.5730 and at 1.5815 cap the price from above.
EUR/JPY's outlook remains bullish. The pair is presently overcoming 105.75/106.80 resistance area and will aim for 107.20 (200 day ma) next. Supports are situated at 105.22/59 and at 103.90.
Today EUR/USD currency pair is likely to be traded frat. A tough resistance zone at 1.3300/22 should contain intraday rallies and send the pair down to 1.2974. Additional supports may be found at 1.2891/54 and 1.2775.
USD/CHF slightly rose today, crossing the 0.9119 daily market participants mean on better-than-expected US home sales and declined inventories.
USD/JPY pursued moving in the upward direction today on a increase of January existing home sales in the US, leaving the daily forecast mean (79.71) intact.
The British pound commenced a bearish reversal today after hitting the daily forecast mean (1.5797) as the Bank of England monetary policy committee (7-0-2 act./9-0-0 est.) voted to continue another quantitative easing to support the UK economic recovery.
The common European currency moved higher today on the Greek debt deal confirmation and pierced the 105.53 target today.
EUR/USD continued the rally on the Greek bailout package approval, breaching the daily forecast mean (1.3237).
USD/CHF has retested a tough support at 0.9080/66 and should hold above it for now. However, failure here would imply a sell off down to 0.8960 or even 0.8787/67 (200 day ma). Resistances at 0.9300, 0.9314 and 0.9317/31 presently cap the price.
Bullish momentum of the currency pair is not weakening and is expected to persist. After breaching resistance zone at 79.93/80.25 USD/JPY is likely to surge up to 82.80. Dips should by contained by supports at 79.63/43 and 78.41/29.
The price tumbled just before hitting 1.5913 (200 day ma) and is now expected to penetrate support at 1.5727. Subsequent levels at 1.5645 and 1.5580 should follow due to negative short- and long-term outlooks.
EUR/JPY is currently approaching a formidable resistance situated at 106.02 and may not overcome it at the first try. Near-term supports are located at 105.41, 104.81 and 103.90, while 102.01 is a key level.
EUR/USD is anticipated to overcome an initial resistance at 1.3235/50 and then fail at 1.3300/22. Afterwards it is expected to slide down to 1.2974. Below the latter level the pair will target 1.2891/54 en route to 1.2775.
USD/CHF rebounded today and pierced the daily target at 0.9122, although the trading balance has declined (1.55B act./1.95B est.).
The Japanese yen appreciated today versus the American dollar, piercing the daily forecast mean (79.62), as the monthly activity of all industries in Japan worsened in January (1.3% act./1.6% est.).
The British pound hit the market participants' daily target (1.5843) today as the public sector net borrowing rose today (-10.7B act./-8.9B est.).
EUR/JPY approached its 3-month high today on Europe's second bailout package approval.
The single European currency advanced today versus the American dollar and pierced the daily forecast mean at 1.3232 as Europe approved Greece bail-out package.
Despite near-term weakness expected from USD/JPY at 79.93/80.25, the overall trend should remain upward sloping, with the target at 86.85. Supports are situated at 79.00, 78.41 and 78.29.
Key support area at 0.9080/66 guards lower levels at 0.8960 and 0.8787/64 (200 day ma). These should hold and repel the pair. From above USD/CHF is capped by 0.9300 and 0.9317/31 (55 day ma).
After testing 1.5915 (200 day ma) the Cable is expected to fall down to 1.5645. Subsequent targets lie at 1.5580 and at 1.5300. In the short-term rallies should be thus kept by 1.5915, while in the long-term the pair may slide down to 1.5188.
The immediate resistance line is at 105.72, being the first of many levels ahead. An initial attempt to penetrate this zone is unlikely to be successful. However, provided that 101.83 halts dips, the outlook will remain bullish.
EUR/USD continues climbing higher after bouncing off 1.2974. In case the rally extends above 1.3322, the pair is likely to reach 1.3435 with a consecutive possibility of surging up to 1.3628. Should resistance at 1.3322 withstand, the price will target 1.2974 first and 1.2891/54 afterwards.
EUR/USD left the daily forecast mean (1.3148) intact today as the Greece and the EU members finalize the debt deal.