Took out that 1.5500 level yesterday with ease and just broke above the 1.56 level this morning. As I noted last week, it is difficult to have any real targets on these break outs and I prefer to stay bullish until I see a clear reversal pattern. However that being said, it is now in the range where the move has been almost parabolic the last few days, so I would be cautious now, as 1.5610 is overhead resistance on 1 month chart. Then you have 1.5656 as the overhead resistance going back to 2006. A clean break above these two levels opens for a run towards 1.60. Rising trend line is all the way down at 1.5386 today and as long as this trend line holds the short term bullish momentum remains intact.
Support: 1.5520 (former overhead res), 1.5386(short term rising sup), 1.5220 (rising sup), 1.5104 (former overhead res), 1.4967(former high), 1.4915(rising sup), 1.4750 (break out level), 1.4890 (rising support),
Resistance: 1.5610 (1 month overhead res), 1.5656 (overhead res going back to 2006)
240 min â€“ Rising support at 1.5297 and overhead resistance at 1.5610.
The move above 2.0230 resistance was the trigger for another acceleration higher yesterday. Overhead resistance coming in at 2.0420 today and expect to see selling ahead of this level. To the downside the closest support points are; the break out level of 2.0230 from yesterday and the rising support is coming in at 1.9937 today.
Support: 2.0230 (break out level), 1.9960(for key res), 1.9937 (rising sup), 1.9736 (break out level), 1.9650, 1.9500 (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 2.0415 (overhead res), 2.0570 (trend channel resistance)
120 min â€“ Rising support coming in at 1.9937.
Donâ€™t really have much support levels to go by as it is trading in unchartered territory, have underlying support from June 07 low coming in at 0.9972, which should offer some support if it is tested. Have falling resistance at 1.0487 today, with the key point being former all time low at 1.0728 now.
Support: 0.9972 (underlying support going back to June 07)
Resistance: 1.0392 (former sup line), 1.0487 (falling res), 1.0728 (prior low), 1.0936 (break down level), 1.0855 (falling res)
Could not hold above 102.80 support yesterday (outlined as crucial support yesterdayâ€™s report) and saw another big sell off overnight dipping below 100 level this morning. Stock markets have been quite choppy over the last few sessions and this translates to more volatility in JPY as well, so keep an eye on development in stocks for clues on JPY going forward. Have falling resistance coming in at 103.10 today, so bearish momentum intact below this level.
Support: 100 (key level)
Resistance: 103.10 (falling res), 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.25 (falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Have some support down in the 155.50 area with the big support being the long term rising trend in at 153.88 today. Have overhead resistance coming in at 159.00 and falling resistance at 160.15 today (from Dec 08 high).
Support: 155.53, 154.04, 153.88 (long term rising trend line)
Resistance: 159.00 (overhead res), 160.15 (falling res), 161.60 (minor res), 162.17 (key res)
Basically trading inside a rising channel with 1.0004 resistance on top and underlying support at 0.9791. As noted a few days ago the CAD should see some support from the strong unemployment report out of Canada on Friday and after testing overhead resistance toward 0.9990 it moved considerably lower yesterday and key support now is the rising support at 0.9791.
Support: 0.9791 (rising support from Nov07 low), 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 1.0004 (former support line), 1.0124 (short term falling res), 1.0222(overhead res), 1.0280 (falling res from Aug 07 high), 1.0380 (key level, overhead res), 1.0400(former key support.)
Touched the 0.7597 support level before moving to the upside once again. Technically still bullish above 0.7595 key level now. Have interim rising support coming in at 0.7631 today .
Support: 0.7631 (interim rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res), 0.7487 (rising support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7691 (6 Mar high)
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