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.
The British Pound strengthened today versus the American Dollar as the UK monthly retail sales improved (0.9% act./-0.3% est.), leaving the daily forecast mean (1.5769) untapped.
EUR/JPY continued its rally and broke through the 103.29 target as the Bank of Japan continued its easing programme to weaken the Yen.
The pair advanced today on investor optimism that the Greek debt deal will be reached on February 20, leaving the daily forecast mean (1.3101) intact.
Despite current short-term rally which started at 1.2974 the bias remains bearish for EUR/USD. The initial target for the pair is located at 1.2891/54, while in the longer term the price should fall at least down to 1.2624.
USD/CHF did not manage to get a foothold above 0.9317/31 (55 day ma) and is now expected to pull back. Due to strong support provided by area at 0.9080/66 the pair is anticipated to retest 0.9317/31 before aiming for 0.9595.
Even though USD/JPY is facing a number of resistances at the moment - 79.17/20 (55 week ma), 79.55 and 80.00/25, the bias is nevertheless bullish. Supports at 78.43/29 and 78.04 should be able prevent any extensive dips.
Present rally is likely to be short-lived, since a tough resistance level situated at 1.5919 (200 day ma) should halt the pair's bullish advancement. Therefore a support at 1.5603/1.5580 (55 day ma) is still being targeted.
Since EUR/JPY is underpinned by a rather strong support, it is expected to maintain its current course to the upside. Resistance located at 104.30 should fall a victim first, followed by 107.52 (200 ma).
The pair advanced today after the jobless claims reduced more-than-forecast, causing the daily market participants' mean (0.9219) to pierce.
The American dollar appreciated against the Japanese yen after the unemployment claims shrinked more than expected (348K act./364K est.).
The daily forecast mean (1.5697) has been hit after the nationwide consumer confidence (47 act./40 est.).
After hitting the 102.65 daily target, the pair withdrew earlier gains after as worries over the Greek debt deal continued to mount.
EUR/USD pierced the 1.30 level today, leaving the the daily forecast mean at 1.3091, as the EU demand more control over the Greek budget.
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).