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From yesterday The break above 1.4600 last week opens for an extension towards 1.4750 near term. However 1.4700 has proved strong support so far and need to get above this level in the next few days to avoid a correction lower. Spot on with that analysis as it tests 1.4750 at this very moment. If it can take out 1.4750 then the next resistance level is 1.4830 area. Have rising support at 1.4623 today. Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4311, which must hold to keep alive the prospects for higher levels.
Support: 1.4623 (risings support), 1.4530, 1.4460 (rising sup), 1.4360, 1.4311 (key swing level)
Resistance: 1.4700, 1.4750, 1.4970 (key level) and 1.5000 (key level)
240 min â€“ Support at 1.4417 and falling resistance at 1.4889. Rising trend support at 1.4617 today.
Was able to hold 1.9470 level overnight, but still bearish momentum below 1.9550 today, so need to break above this level to open for any strong rally. 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 1.9870.
Support: 1.9470, 1.9385, 1.9337 (key Jan low), 1.9310
Resistance: 1.9550, 1.9760, 1.9870 (overhead res) 1.9960, 2.0000, 2.0170 (Key level)
120 min â€“ Falling resistance now at 1.9689 and support at 1.9412.
Still bullish potential as long as rising support at 1.0920 holds. Key resistance is now 1.1120 and falling resistance at 1.1098 so might be worth selling any rallies towards these levels and go long on a break above 1.1140. To the downside 1.0885 is key support.
Support: 1.0920 (rising support), 1.0885 (Friday low), 1.0730 (key low)
Resistance: 1.1098 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), and 1.1441 (key falling resistance from Jul 07 highs)
The key points to keep an eye on remains 108.56 (overhead resistance) and 107.60 and any break of either 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, 106.62 (risings support), 105.70 (key level), 104.95
Resistance: 108.56 (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) last week 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. Also have short term rising support coming in at 157.45 today. European stock indices are a bit weak this morning, so unless this changes throughout the day the likelihood for a big move higher is limited today.
Support: 157.45(short term rising 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)
Broke out of that apex on daily chart when it moved above 1.0002 Friday and as expected it move significantly higher on the break out. Rising support at 0.9944 today and minor support at the break out level from Friday at 1.0002. First resistance level is 1.0129 today. Watch out for CAN CPI out at 12:00 GMT if you are trading this pair today, can spark some big moves the CPI release.
Support: 0.9944 (apex lower support), 0.9830 (key level), 0.9703 (1 month low)
Resistance: 1.0129 (7 Feb. reaction high), 1.0380 (key level, overhead res), 1.0400(former key support.)
From yesterday Key support at 0.7400 held up once more last week and it took out 0.7492 overhead resistance overnight. This signals potential for a test of 07544 key resistance near term. Indeed it reached the 0.7544 level this morning. If it can get above this 0.7544-50 level the next resistance level is then the all time high at 0.7612. Rising support coming in at 0.7424 today.
Support: 0.7495 (former res), 0.7424(risings support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7498, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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