Despite that USD/CHF pair is somewhat weak at the moment, the overall picture remains bullish. In case the price falls, a tough level located at 0.9375 should be able to provide sufficient support and send the pair back up.
The bias for USD/JPY is slightly bearish, with the possibility of the currency couple dipping down to 77.00, since a tough resistance located at 78.25 is expected to repel rallies. However, the price should first violate a rather strong support at 77.50.
A break below 1.5400 is a negative sign for the Cable, even though it is presently recovering from its recent low at 1.5355/65. To confirm a long-term recovery it should re-establish 1.5400 as a key level.
EUR/JPY attempts to stabilise near a support situated at 100.00, nonetheless this endeavour is expected to fail and trigger a sell off down to 99.50. In case the latter level is breached as well, a pullback might extend to 99.00.
Even though the pair managed to recover from 1.2850, the outlook remains bearish. As long as a key resistance at 1.3000/50 caps EUR/USD from above, bullish momentum is unlikely to appear.
The pair continues trading in the 77-78 price range against the Yen as investors were spooked by more-than-expected US unemployment claims, thus the daily market participants' target at 77.87 has been pierced.
The pair slumped today and breached the daily forecast mean at 1.5508 after the Chicago PMI rose more than expected (62.5 vs. 60.4 estimate).
The Euro pierced the market participants' forecast at 101.05 against the Yen on news banks deposited the record sum to the ECB.
EUR/USD continued moving downwards after the month-to-month US pending homes sales rose 7.3% instead of forecast of 1.7%; therefore the market participants' forecast mean (1.2967) remained untapped.
The Euro - Japanese Yen currency pair has pierced through a key support at 101.00 and is currently eyeing 99.50 as a next target. Should the latter level be breached, weakness of the price might extend down to 99.00.
In case EUR/USD rebounds from 1.2930/44 and climbs as high as 1.30, upward correction might continue for some time more, up to 1.3160. However, should 1.2944 be breached, the pair is likely to target 1.2870 first and 1.2590 afterwards.
Following a recent rally the currency couple is expected to carry on stepping higher. Additionally, since the uptrend is anticipated to provide sufficient support, a break of 0.9430 would imply a possible advancement up to 0.9545.
USD/JPY did not manage to gain foothold above a key resistance at 78.00/25. Therefore it is likely to carry on trading within a narrow range between a tough support at 77.00 and a strong resistance zone located at 78.00/25.
The price of the British Pound has fallen sharply after nearly reaching 1.5700. At the moment the outlook remains bearish, with a likely scenario of the Cable dipping as low as 1.5400 in the nearest future.
Correction lower might extend even lower while USD/CHF is being capped by a resistance line at 0.9399. After breaching support at 0.9242, 0.9173 will become the next target. Even though 0.9056 is unlikely to be broken since it is a cluster of supports, a dip below it cannot be ruled out.
While being capped by a tough resistance at 78.00/25 the near-term bias for the pair is bearish which has been confirmed by a dip below 78.00 level. At the moment USD/JPY is heading toward a support at 77.00.
The immediate resistance for the Cable is situated at 1.5779, while a higher level is at 1.6165. In case the pair becomes bearish, supports at 1.5557 and at 1.5409 should be able to halt downward movement and restore neutral bias.
The Euro is expected to keep on depreciating relative to the Japanese Yen. Even though the price managed to rebound from 101.00, it was unable to penetrate 102.50 and currently stays below 200 4H moving average.
The outlook for EUR/USD is from neutral to positive, since the indicators suggest a rather calm day for the pair. The initial resistance is located at 1.3082, ahead of 1.3200 and 1.3324. Supports, on the other hand, may be found at 1.3041, 1.2917 and at 1.2800 as well.
The market forecast mean (0.9360) has been breached as the American dollar advanced on sound US consumer confidence.
USD advanced today as investors continued acquiring the US dollars against the yen on strong US consumer confidence.
The British Pound slumped today, crossing the market participants' target at 1.5612 as investors consider the UK economic prospects gloomy for the next quarter.
The common European currency continued its recovery versus the Yen as investors expect the Christmas rally will make the European retailers benefit from it; thus, the daily forecast mean at 101.90 has been hit.
EUR/USD pierced the daily forecast mean at 1.3053 as the US home prices felt more than expected.