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Bullish momentum intact above 1.4640 and resistance is at 1.4780. Might just stay in this range for today, ahead of the Fed meeting tomorrow. Have more support coming at 1.4451 (rising trend line). Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4264, which must hold to keep alive prospects for higher levels.
Support: 1.4640, 1.4520, 1.4451 (key rising sup), 1.4264 (key swing level)
Resistance: 1.4780, 1.4800 (key level), 1.4920, 1.4967 and 1.5000
240 min â€“ Support at 1.4375 and falling resistance at 1.4910.
Key resistance remains 1.9850 (falling resistance from the 2.11 highs) and a break above this trend line would technically halt the recent GBP weakness, so watch this level today. Had a false break above this level overnight, but fell back sharply after some stops were taken out. To the down side the key support is now at 1.9640 (break out level from last Thursday).
Support: 1.9640, 1.9428, 1.9337 (key Jan low), 1.9310
Resistance: 1.9850 (falling res), 1.9890, 2.0170 (Key level)
120 min â€“ Falling resistance at 1.9850 (key level).
Still key support remains 1.0850 and resistance coming in at 1.1089 (falling res) today and you also have that reaction high from Tuesday last week at 1.1120, so basically these levels are the key resistance to watch out for now. Some minor resistance at 1.10 as well that might hold the upside ahead of the FOMC meeting tomorrow.
Support: 1.0880, 1.0850
Resistance: 1.1000, 1.1089 (falling res), 1.1120, 1.1205(former support level), 1.1350(former support), 1.1456 and 1.1554 (key falling resistance from Jul 07 highs)
120 min- Falling resistance at 1.1037 and minor rising support at 1.0881 on this chart.
Stopped short of the key resistance at 107.90 Friday and level that is now the key swing level. A break above this level is bullish. Support is now at 105.50 followed by 104.95. But watch stocks for further direction in USDJPY as any recovery in the stock market will see the USDJPY go higher and a break of 108.10 is bullish. To the downside 104.95 looks like solid support at the moment.
Support: 105.50 (key level), 104.95
Resistance: 107.92 (key level), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
The levels to keep an eye on today are 159.25 (falling resistance) and 155.50 support. As indicated Friday the 159.25 resistance should hold on the first test and indeed it did and ended the day more than 2 figures of this level Friday. Expect more of range trading environment going into tomorrowâ€™s FOMC decision than compared to the wild swings seen over the last week.
Support: 155.50, 152.97 (long term rising trend line)
Resistance: 158.20 (falling res), 159.25 (key level)
120 min â€“ 159.25 key resistance level and minor support at 155.50.
As indicated Friday it was looking weak after the break out of the recent trend channel, next key support is 1.0000 and resistance is former key support line at 1.0130 now, so basically bearish momentum intact below 1.0130 today.
Support: 1.000 (former overhead resistance line), 9830 (key level), 0.9703 (1 month low)
Resistance: 1.0130 (former support line), 1.0380 (key level, overhead res), 1.0400(former key support.)
Traded briefly below key support at .07400 overnight, but shoot up within a few minutes. This level now looks well supported and key resistance is at 0.7490.
Support: 0.7400, 0,7350, 0.7282 (rising support)
Resistance: 0.7490, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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