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The break above 1.4600 yesterday opens for an extension towards 1.4750 near term. Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4310, which must hold to keep alive the prospects for higher levels.
Support: 1.4600, 1.4530, 1.4444 (rising sup), 1.4360, 1.4310 (key swing level)
Resistance: 1.4700, 1.4750, 1.4970 (key level) and 1.5000 (key level)
240 min â€“ Support at 1.4405 and falling resistance at 1.4895.
Didnâ€™t quite manage to get to 1.9760 resistance yesterday. The recent rally looks a bit overdone now as the BoE quarterly report was quite negative yesterday and I donâ€™t see EURGBP falling below 0.7400 key support anytime soon, actually more likely to see a move towards 0.7495 in EURGBP and that should put pressure on GBP across the board. For today minor support is 1.9610 (rising support from last weekâ€™s low) followed by 1.9560. 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 1.9879.
Support: 19610 (rising sup), 1.9540, 1.9440, 1.9385, 1.9337 (key Jan low), 1.9310
Resistance: 1.9760, 1.9879 (overhead res) 1.9960, 2.0000, 2.0170 (Key level)
120 min â€“ Falling resistance now at 1.9749 and support at 1.9529.
Held upper resistance at 1.1100 Wednesday and broke below the rising support at 1.1025 yesterday, which is a bearish signal and it will now depend if 1.0930 key support holds to decide on the next move. 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 1.0930 is key support.
Support: 1.0930 (key level), 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)
From 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. Exactly what happened, it topped out right above 108.50 and fell to 107.70 low overnight. The key points to keep an eye on today are 108.50 and 107.60 and a break of any of these levels could provide a bigger move. Watch stocks for further direction in USDJPY as any recovery in the stock market will see the USDJPY go higher.
Support: 107.60, 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) Wednesday and this level is now interim support. Could have potential to test the overhead resistance at 159.66 near term. Have minor resistance at 158.90 that needs to be taken out first. To the downside 154.30 is key support.
Support: 157.06 (former key res), 154.95, 152.97 (long term rising trend line)
Resistance: 158.90 (former sup), 159.66 (key level), 160.31 (former support line, now resistance)
Still trading inside an apex and the resistance is at 1.0002 and support at 0.9934 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: 0.9934 (apex lower support), 0.9830 (key level), 0.9703 (1 month low)
Resistance: 1.0002 (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. Held 0.7400 key support yesterday and looks to be set up for a move towards 0.7498 resistance next.
Support: 0.7430, 0.7400, 7350, 0.7302 (rising support)
Resistance: 0.7498, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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