Couldnâ€™t sustain the bullish momentum on Friday afternoon as seen the previous days. Technically bullish above former overhead resistance now support which comes in at 1.5093 today. More support at the former all time high of 1.4967 (break out level). How far this move will extend is difficult to estimate as we are basically in unchartered territory, so I remain bullish until a clear reversal pattern develops. Have short term rising support down at 1.4944 as well today.
Support: 1.5093 (former overhead res), 1.4967(former high), 1.4944 (rising sup), 1.4750 (break out level), 1.4737 (rising support), 1.453, 1.4360, 1.4336 (key swing level)
Resistance: 1.5239 (Fridayâ€™s high)
240 min â€“ Rising support at 1.4903 and 1.4751.
Trading inside a rising bull channel and support is 1.9740 for today, so need to hold this level to keep the bullish momentum alive. As outlined yesterday the key resistance level is 1.9960, which is a stiff resistance level and it held up on the 2nd test as on Thursday last week. Keep a close eye on this level.
Support: 1.9740 (rising support), 1.9736 (break out level), 1.9640 (yesterdayâ€™s low), 1.9500 (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 1.9960 (key level), 2.0100, 2.0170 (Key level)
120 min â€“ On this chart you can see that the short term rising support at 1.9832 was broken Friday, so should see some consolidation or break lower near term. Break above the 1.9960 would be bullish signal.
Solid break lower as CHF has outperformed the Euro over the last week as risk reduction has supported CHF. EURCHF testing some good support levels this morning that could hold up and see it bounce higher(meaning CHF weaker across the board), especially if stocks rebound from the recent slump. Donâ€™t really have much support levels to go by as it is trading in unchartered territory, have underlying support from June 07 low coming in at 1.0050, which is way below the current level. Have resistance at former support lines at 1.0430 and 1.0667 today, with the key point being former all time low at 1.0728 now.
Support: 1.0050 (underlying support going back to June 07)
Resistance: 1.0430 (former sup line), 1.0554 (former support), 1.0667, 1.0728 (prior low), 1.0936 (break down level), 1.0950 (falling res), 1.1067 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), and 1.1441 (key falling resistance from Jun 07 highs)
As indicated last week the break below 107.04 support line of the consolidation pattern was a bearish signal and saw a new multi year low overnight. Also broke below the underlying support at 103.30 that didnâ€™t hold up on even the first test. Looks very much up to the stock market what happens in this pair and with Asian markets falling heavily overnight the JPY moved stronger across the board, but any rebound should see profit taking in JPY. Yen is approaching some key levels with 2005 low of 101.67 in sight, so should have a bit potential to bounce if that level is tested.
Support: 101.67 (2005 low)
Resistance: 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.52 (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)
From Friday Took out rising support at 159.92 overnight that indicates the recent bullish momentum is halted and indicates lower levels near term. Spot on there with EURJPY tumbling over the last sessions. Next support level is now 155.53 followed by 154.04 (key support). Have falling resistance coming in at 161.08 today and key resistance remains 161.60.
Support: 155.04, 154.04, 153.75 (long term rising trend line)
Resistance: 161.08 (falling res), 161.60 (minor res), 162.17 (key res)
Bearish outlook intact below the Jan low of 0.9870 today. Former support line coming in at 0.9975 (now resistance) today and falling resistance is all the way up at 1.0133.
Support: 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 0.9950(break down level), 1.0133 (short term falling res), 1.0222(overhead res), 1.0280 (falling res from Aug 07 high), 1.0380 (key level, overhead res), 1.0400(former key support.)
Somewhat of a weak close Friday that signals some selling interest towards the 0.7680 level. Technically still bullish above 0.7612 break out level. Former overhead resistance (now possible support) coming in at 0.7572 today and rising support coming in at 0.7487 today.
Support: 0.7612 (former high), 0.7572 (former overhead res), 0.7495 (former res), 0.7487 (rising support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7677 (Fridayâ€™s high)
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