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The break above 1.4600 this morning opens for an extension towards 1.4750 near term. However the 1.4630 level seems stuffed with sell interest so that might prove difficult to get above on the first test, but should give way fairly soon anyway. Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4302, which must hold to keep alive the prospects for higher levels.
Support: 1.4530, 1.4444 (rising sup), 1.4360, 1.4302 (key swing level)
Resistance: 1.4630, 1.4650, 1.4750, 1.4970 (key level) and 1.5000 (key level)
240 min â€“ Support at 1.4400 and falling resistance at 1.4898.
Again the break out came yesterday and as mentioned in yesterdayâ€™s report it was likely that we would see sub 1.9700 if 1.9640 was taken out and indeed that happened this morning. For today minor support is that break out point at 1.9560 (rising support from last weekâ€™s low) followed by 1.9440. Key support remains the yearly low at 1.9336 and a break of this level would open for a test of 1.90 near term. To the upside the 1.9760 level is key resistance for today, followed by overhead resistance at 1.9882.
Support: 1.9540, 1.9440, 1.9385, 1.9337 (key Jan low), 1.9310
Resistance: 1.9760, 1.9882 (overhead res) 1.9960, 2.0000, 2.0170 (Key level)
120 min â€“ Falling resistance now at 1.9749 and support at 1.9529.
The upper resistance was tested again with a spike above 1.1100 level yesterday, but once again this 1.1120 key resistance held up. Key resistance is now 1.1120 and falling resistance at 1.1104 so basically any rally towards that level looks like a solid shorting opportunity. To the downside 1.1020 is minor support followed by 1.0930 key support.
Support: 1.1020, 1.0930, 1.0850, 1.0730 (key low)
Resistance: 1.1104 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), 1.1456 and 1.1554 (key falling resistance from Jul 07 highs)
Broke above 107.90 level that was good for about 40 pips yesterday. If you look at the chart there is overhead resistance around 108.50 that one could expect to hold on the first few tests, so sell any approach towards this level today with a tight stop for a move back towards at least 107.75 support. Watch stocks for further direction in USDJPY as any recovery in the stock market will see the USDJPY go higher.
Support: 107.75, 105.70 (key level), 104.95
Resistance: 108.50 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Took out 157.06 (falling resistance) yesterday and this level is now interim support. Could have potential to test the overhead resistance at 159.66 near term. To the downside 154.30 is key support. Note Also have former support (now resistance) at 158.80 today.
Support: 157.06 (former key res), 154.95, 152.97 (long term rising trend line)
Resistance: 158.80 (former sup), 159.66 (key level), 160.31 (former support line, now resistance)
Trading inside an apex and the resistance is at 1.0023 and support at 0.9929 that is getting pretty tight now and a break out could be expected very soon. It basically needs to break out of this formation to trigger any bigger move at this stage.
Support: 0.9929 (apex lower support), 0.9830 (key level), 0.9703 (1 month low)
Resistance: 1.0023 (apex overhead res), 1.0380 (key level, overhead res), 1.0400(former key support.)
Bullish outlook above 0.7400 support today, so might be worth trying to buy dips towards 0.7400 with tight stop.
Support: 0.7430, 0.7400, 7350, 0.7302 (rising support)
Resistance: 0.7490, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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