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).
The bullish momentum of EUR/USD has vanished and the focus is now on a support at 1.3162. In case this level is breached, the pair is then likely to slide down to 1.3025/00. From above EUR/USD is capped by resistances at 1.3320 and 1.3435.
Despite rocketing up to 0.9200, the outlook for USD/CHF is negative, as resistance at 0.9176 managed to repel the attack of the price. Additional resistance is at 0.9207, beyond which rallies are unlikely.
USD/JPY has been very calm today, without any extensive deviations. In the nearest future the currency couple is not anticipated to drop below a support area at 77.60/50, but to continue slowly crawling higher.
After encountering a formidable resistance zone at 1.5823/32 the Cable has sold off to 1.5755 where it may stall for some time. Nonetheless, the bias is bearish, since the price is trading within a descending channel.
Along with EUR/USD, EUR/JPY has tumbled as well, down through 102.78. The price is now contained within a narrow range between 102.56 (55 day ma) and 102.27. In the short-term we expect the currency pair to return to prior level at 103.05 and higher.
EUR/USD has effortlessly pierced through a support at 1.3227/22 (100 day ma) while falling. However, 1.3179/75 did succeed in halting the pair. Therefore we are likely to see a rebound from the latter level until the end of the day.
Support provided by 0.9080/60 is unlikely to be enough to keep the pair underpinned. USD/CHF is expected to dip down to 0.8750 (200 day ma) and afterwards commence recovering. Resistances will be encountered at 0.9174 and 0.9244/50.
USD/JPY has recently penetrated 77.17/32 (55 and 100 day ma) and is now about to challenge a key resistance level at 78.09/29 (200 ma). From below the currency pair is supported by 77.10 and 76.65.
Resistance at 1.5934 (200 ma) has repelled GBP/USD which is now expected to slowly slide down to 1.5730 first and then down to 1.5660. The bullish impetus has faded and rallies are unlikely to extend above 1.6167/71.
Anticipated close above a resistance line at 102.55/60 suggests EUR/JPY is likely to maintain its northward course. The initial goal lies at 104.30, while 107.72 (200 day ma) may be reached as well. Supports are at 102.21 and 101.10.
EUR/USD is now well-positioned for further gains and may advance up to 1.3625/30. The following target will be located at 1.3840/1.3900. Dips should be limited by supports at 1.3135 and 1.3048.