The former rising support now resistance halted the rally at 1.5860 and basically have to move above this level now to test the 1.5904 all time high. As support, the former overhead resistance (now support) comes in at 1.5740 today. Basically range trading inside these two levels and any break either side should extend 1.5903 or 1.5680 respectively.
Support: 1.5740 (former overhead res), 1.5680, 1.5501 (rising sup), 1.5344 (38,20% Fibonacci) 1.5104 (rising support), 1.4967 (break out level)
Resistance: 1.5860(weekly high), 1.5903 (all time high), 1.6000(psychological level)
240 min â€“ Rising support coming in at 1.5501.
Tested that former trend channel support at 2.0185 yesterday and failed to break above this level. Then moved considerably lower in the afternoon. So this level is now key resistance to break away higher and test the 2.0400 level. To the downside 1.9920 is minor support with rising trend line at 1.9820 as the pivot level that must hold to avoid another sell off
Support: 1.9920, 1.9820 (rising sup), 1.9736 (break out level), 1.9705 (former overhead res), 1.9650, (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 2.0185 (former trend channel support), 2.0447 (overhead res), 2.0570 (trend channel resistance)
120 min â€“ Key support at 1.9720
Falling resistance coming in at 1.0106 today, so down trend intact below this level. To the downside the former underlying support at 0.9834 today, which is still holding up, so play those levels for now and reverse on any breakout outside those levels.
Support: 0.9834 (former underlying support), 0.9647 (all time low)
Resistance: 1.0106 (falling res), 1.0290(former underlying support), 1.0350, 1.0728 (prior low), 1.0936 (break down level),
Key resistance remains 101.70 (former underlying support) and as longs as it stays below this level the chances are good for another dip lower. Also think stocks will have a retracement of the recent rally as well, which should support JPY. Minor resistance today is 100.30 and support coming in at 98.30.
Support: 98.30, 99.60 (interim rising support), 95.70 (yearly low)
Resistance: 100.30 (minor res), 101.70 (former underlying sup), 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)
Falling resistance at 158.80 that seems like a good selling level on any test. To the downside the interim rising support coming in at 155.76 today.
Support: 155.76 (interim rising sup), 153.60, 151.70 (last weekâ€™s low)
Resistance: 158.81 (falling res), 159.00 (overhead res), 159.20 (falling res), 161.60 (minor res), 162.17 (key res)
Next key resistance is now the 2008 high at 1.0378 and any approach of this level should meet selling interest, at least on the first test. Former overhead resistance coming in at 1.0060 today that should act as a support today.
Support: 1.0060 (former overhear res), 1.0030 (break out level), 0.9796 (rising support from Nov07 low), 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 1.0378 (key level, overhead res), 1.0400(former key support.)
Rising support coming in at 0.7754 today and while above this level the outlook remains bullish.
Support: 0.7754(interim rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res)
Resistance: 0.7910 (all time high)
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