Resistance levels located at 1.5597 (55 day ma) and at 1.5643 should halt the Cable and send the pair down to 1.5272. Subsequent support is at 1.5156, in case it is breached, GBP/USD will fall down to 1.4260/29.
EUR/JPY is already in the vicinity of 100.45/77 and is anticipated to carry on advancing. Although this rally is highly unlikely to be able to pierce a fairly strong resistance zone situated at 102.55/60.
As expected, the currency pair has managed to attain its initial target at 1.30. The current bullish outlook is likely to last until 1.3245 is reached, though a resistance area at 1.3077/1.3145 will have to be penetrated first.
The bearish correction of USD/CHF strengthened today as the risk appetite comes back to Europe on news Greece has persuaded private bondholders to take losses.
The American dollar spiked the 77.00 mark against the Japanese yen, hitting the daily forecast mean (77.05).
The British pound appreciated on versus the American dollar after the UK government announced new guarantees to stimulate the local housing market, leaving the daily forecast mean (1.5471) intact.
The bullish correction of EUR/JPY continued today on rumors Greece will get its debt deal on time, piercing the 100.00 level.
The shared European currency broke the 1.30 level on rumors Greece has almost agreed on the debt accord with the private bondholders.
Following a fall down to 0.9304 (55 day ma), USD/CHF managed to recover. In order to restore its bullish outlook and challenge 0.9595 again, the price will have to overcome a key resistance at 0.9410/50 first.
After rebounding from 76.63, USD/JPY is expected to carry on rising while encountering resistances situated at 77.50, 78.42 (200 day ma), 79.49 (55 week ma) and 80.00. At the moment the currency pair is attempting to breach through 100 day ma at 77.19.
Bullish momentum of the Cable is weakening while the currency pair is closing in to 55 day ma at 1.5606/81. Test of this resistance is expected to trigger a sell off down to 1.5272 with perspectives of reaching 1.4260/29 in the longer period.
The currency pair is already approaching its initial goal located at 100.45/77 and is likely to continue to move en route to 102.55/60 which should cap further advancement. Nonetheless, the long-term outlook is negative with final destination at 94.92.
EUR/USD is expected to extend its bullish correction up to 1.3077/1.3145. Rallies, however, should not surpass a threshold of 1.3245. The initial support lies at 1.2850, it is reinforced by levels at 1.2810/00 and 1.2698.
After being repelled by a tough resistance situated at 0.9595, USD/CHF has plummeted down to 0.9317. To overthrow bearish bias toward the pair, it will have to reach 0.9415 and then attempt to overcome 0.9595 once more.
Eventually USD/JPY should be able to erode resistance at 77.69 and then subsequent lines at 78.45 (200 day ma) and at 79.56 (55 week ma) as well. At the moment the pair is breaking through the 100 day ma at 77.18.
The Cable is currently advancing, although its upward movement should slow down while the pair is approaching 55 day ma at 1.5614/60. In the long run GBP/USD is perceived as bearish with the possibility of falling down to 1.4260/29.
EUR/JPY has breached a downtrend implying the possibility of extending its gains. Bullish impetus is expected to last until 100.45/77 or 102.55/60 resistance areas are encountered. The initial support is at 99.33.
The currency pair has overcome 1.2830 (20 day ma) and is now headed toward 1.3077/1.3145. However, a resistance level located at 1.3245 is unlikely to be challenged. Supports at 1.2880/30, 1.2800 and 1.2698 should cover dips.
The pair continued its bearish correction as US housing starts (0.66M act./0.69M est.) disappoined investors and traded below the 0.9400 level.
The American dollar remained trading in 76-77 channel versus the Japanese yen, hitting the daily forecast mean (76.79) as the US m/m Core CPI was released in line with the analysts expectations (0.1% act./0.1% est.).
GBP traded in a narrow channel today as no significant news has been released, leaving the target at 1.5327 intact.
The pair continued its bullish correction on successful Spanish bond auction, showing risk appetite among investors is improving. The daily market participants' target (98.23) remained untapped today.
The single European currency advanced today, leaving the daily forecast (1.2794) intact, after Spain sold more than previously announced in its debt.
The currency pair has tumbled down to a support at 0.9384/17 which is anticipated to withstand bearish pressure. After retesting this level USD/CHF should commence surging and eventually attain 0.9595.