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.
The shared European currency advanced today versus the Japanese yen, leaving the daily level at 104.27 intact as investors await positive resolution of the Greek debt deal.
The Cable continued its recovery after the housing price index rose today (4.1% act./-0.8% est.).
After touching the daily forecast mean (79.36), USD/JPY rebounded today as Japan decided to carry on with the monetary easing policy.
USD/CHF did not recover today inspite of market participants' daily expectations (0.9189) as the Swiss Franc appreciated today on brightened EU macroeconomic prospects.
USD/CHF is anticipated to consolidate ahead of 0.9080/66. After forming a base the pair should retest a strong resistance at 0.9318/31. In case the latter level is penetrated, the rally is likely to extend up to 0.9595.
The initial resistance for the pair is situated at 79.55, followed by 79.89 and 80.00. In the long-term the pair is targeting 86.85, though it will have to overcome 82.80 and 85.53 first. Dips should be halted by supports at 78.41, 78.29 and 77.77.
The Cable is advancing toward 1.5917 (200 day ma) at the moment. However, this resistance line is not expected to be breached. On the contrary, we are likely to observe a trade off down to 1.5645 following an encounter.
EUR/JPY is currently facing a tough resistance zone at 105.44/106.80 which is unlikely to be breached at the very first attempt. Nonetheless, the bias is bullish as long as the pair trades above a key support at 101.67.
Despite EUR/USD bouncing off 1.2974, the outlook remains bearish for the pair. Below this support the price should target 1.2891/54 first, then 1.2634. Resistances are located at 1.3235/50 and at 1.3322.
The daily forecast mean (0.9212) was not hit today as USD/CHF moved lower today as macroeconomic conditions in Europe improve.
The Japanese Yen continued its depreciation today versus the American Dollar today as the BoJ decided to continue its monetary easing policy; thus, the daily forecast mean (78.80) remained untapped.