USD/JPY (last 108.72): The pair, as shown on a daily chart, has managed to avoid posting a deeper consolidation. Currently it is trading at levels around the ascending 20-day moving average while being supported by the 50-day moving average (also positively sloped). Key support remains at 108.00. Unless this level is breached, the pair stands chances of revisiting 109.50 and 110.65 on the upside. Alternatively, below 108.00, expect a further decline toward 107.00 on the downside.
EUR/USD (last 1.1021): The pair retreated after touching the declining 20-day moving average. Besides, the bearish cross between 20-day and 50-day moving averages has been identified. The relative strength index has struck against its neutrality level at 50 and is turning downward. Therefore, as long as 1.1090 is not surpassed, expect a drop with targets at 1.0990 and 1.0940 in extension. Alternatively, breaking above 1.1090 would bring another up leg with 1.1185 and 1.1280 as targets.
EUR/USD
1st support - 1.0990 (moderate)
1st resistance - 1.1090 (major)
2nd support - 1.0940 (moderate)
2nd resistance - 1.1185 (major)
GBP/USD
1st support - 1.2760 (major)
1st resistance - 1.3000 (major)
2nd support - 1.2575 (major)
2nd resistance - 1.3175 (major)
GBP/USD (last 1.2848): The pair remains trading within a consolidation range after a recent rally. Currently, support is provided by the ascending 50-day moving average, while the relative strength index stays above the neutrality level of 50, signaling that the bullish bias persists. As long as the key support at 1.2760 holds, the pair should advance to 1.3000 and 1.3175. Alternatively, a break below 1.2760 would trigger a pull-back to 1.2575.
EUR/USD (last 1.1021): The pair retreated after touching the declining 20-day moving average. Besides, the bearish cross between 20-day and 50-day moving averages has been identified. The relative strength index has struck against its neutrality level at 50 and is turning downward. Therefore, as long as 1.1090 is not surpassed, expect a drop with targets at 1.0990 and 1.0940 in extension. Alternatively, breaking above 1.1090 would bring another up leg with 1.1185 and 1.1280 as targets.
EUR/USD
1st support - 1.0990 (moderate)
1st resistance - 1.1090 (major)
2nd support - 1.0940 (moderate)
2nd resistance - 1.1185 (major)
GBP/USD
1st support - 1.2760 (major)
1st resistance - 1.3000 (major)
2nd support - 1.2575 (major)
2nd resistance - 1.3175 (major)
GBP/USD (last 1.2848): The pair remains trading within a consolidation range after a recent rally. Currently, support is provided by the ascending 50-day moving average, while the relative strength index stays above the neutrality level of 50, signaling that the bullish bias persists. As long as the key support at 1.2760 holds, the pair should advance to 1.3000 and 1.3175. Alternatively, a break below 1.2760 would trigger a pull-back to 1.2575.
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