Dips should be limited by a formidable support line at 0.9080/66, above which the pair is expected to consolidate. Rallies might extend up to 0.9250/63 and up to 0.9316 (55 day ma).
USD/JPY has cleared 78.06 (200 day ma) and 78.29 as well, as it is targeting 79.17 (55 week ma) at the moment. Beyond the latter level we might see a rally up to 79.55 or even 80.00/25, should the current bullish momentum prove to be strong enough.
The Cable continues to lose ground, as it has already breached a support at 1.5730. In the short-term the pair is expected to challenge 1.5660 and 1.5601 (55 day ma). In case these supports are broken, the following levels are situated at 1.5580 and 1.5546/44.
As long as the currency couple remains above a key support at 101.11/05 the bias will be bullish for the pair. Recent violation of a resistance line at 102.55/60 allows further advancement up to 104.30 with the possibility of extending rally up to 107.52 (200 day ma).
EUR/USD has plummeted down to 1.3067 (55 ma) and is expected to trade near this level for some time. Gains are likely to be mild, as the price is capped by a resistance at 1.3322. Below 1.3067 the pair should target 1.2891/54.
USD/CHF continued trading in a bearish trend today and hit the 0.9150 daily target as investors were disappointed with the fallen US import prices (0.4% act. 0.8% est.).
The American dollar advanced versus the yen today on more-than-forecast US core retail sales (0.7% act./0.6% est.), touching the daily forecast mean at 77.57.
The British pound slumped today versus the American dollar and broke through the 1.5778 level as the UK inflation fell (3.6% act./3.6% est.).
The single European currency advanced versus the Japanese yen on strong German economic data and ZEW Economic Sentiment (-8.1 act./-21.1 est.) in Europe, breaching the market participants' daily target at 102.49.
EUR/USD erased Monday losses and pierced the daily forecast mean (1.3209) on better than expected German economic outlook (5.4 act./-11.8 est.).
Being that USD/CHF has managed to remain above 0.9080/66, the pair may commence recovering. Should it overcome a key resistance located at 0.9250/63, the following levels at 0.9316 (55 day ma) and 0.9595 may be reached next.
USD/JPY is about to challenge 78.06/29 (200 day ma) and is expected to continue rising afterwards, as both short- and long-term outlooks are positive for the pair. Supports situated at 77.22/76.75 and at 76.00 should halt dips.
After bouncing off 200 day ma at 1.5928 the pair is now gaining bearish momentum. In the short-term the Cable might tumble down to 1.5660 first and then aim for 1.5600 (55 day ma). Subsequent levels may be found at 1.5580 and 1.5300.
Due to inability of the pair to get a foothold above 103.28 the focus has shifted to the immediate support line located at 100.93. In case the latter level is breached, 100.83 (20 day ma) will come into play.
Since EUR/USD currency pair has come under 1.3182, it is now likely to recommence sliding down, as bullish correction is now deemed to be over. The initial target lies within 1.3025 and 1.3000. Further development might result in a dip down to 1.2854.
The pair continued its bearish trend today, closing to the 0.9100 mark despite a decline in monthly PPI (0.0% act./ 0.2% est.).
USD/JPY traded in a flat trend today, though it inched lower as the monthly tertiary activity in Japan rose (1.4% act./ 0.9% est.), thus the daily forecast mean (77.64) has been pierced.
The British pound advanced today versus the American dollar as the Greek debt accord encouraged bullish investors. As a result, the daily forecast mean at 1.5775 has been crossed.
The shared European currency advanced today versus the Japanese yen as the Greek government and the EZ members agreed on the bailout agreement details, leaving the market participants' (102.57) intact.
The pair touched the daily forecast mean (1.3212), reversing earlier rally as the Greek debt deal accord caused social unrest in Athens.
Support at 0.9080/65 continues to underpin the pair, increasing the chance of USD/CHF commencing recovering. A close above 0.9250/60 will imply additional gains up to 0.9317 (55 day ma). Nonetheless, the near-term outlook is still neutral.
USD/JPY is expected to approach a key resistance area at 78.10/30 (200 day ma) with a possibility of overcoming it. Dips should by halted by support lines situated at 77.33 (55 day ma) and 77.10.
A tough resistance zone at 1.5930 which is formed by 200 day ma did not allow further gains for the Cable, sending it down to 1.5730. Subsequent supports are located at 1.5660 and 1.5595 (55 day ma).
After penetrating resistance at 102.55/60 EUR/JPY is headed toward 104.30. In the longer term we may observe advancement up to 107.65 (200 day ma). In the meantime, dips should not be able to extend below 100.55/35 (20 day ma).