Daily Market Technicals

EUR/USD moved up to the Jun 19 resistance line, now at $1.3155 and broke above only to slip back below today. However, initial res now seen as yesterday’s high at $1.3174 which will likely be retested as daily and weekly studies are bullish. A break above tests further res at $1.3200/07. However, monthly studies remain bearish and initial support is at $1.3100/03/15.
R 4: $1.3279/83/95 Low Jun 13, Daily Bollinger band top, Low Jun 14
R 3: $1.3228/43 Reversal high May 1
R 2: $1.3200/07 High Apr 17, High Jul 10
R 1: $1.3174 High Jul 16
Latest price: $1.3132
S 1: $1.3100-15 High Jul 12, High Jun 28
S 2: $1.3059/79 55-DMA, 200-DMA
S 3: $1.3031/32/34 100-DMA, Jul 3 high
S 4: $1.2981/85/94/98 Lows Jun 26, Jul 15, High May 22

GBP/USD held below the 38.2% of $1.5752-1.4814, still initial res at $1.5172, now just above yesterday’s high of $1.5169. However, dly studies mostly bullish and failure to retest initial res could see bears take control while wkly/mthly studies slide. Initial support is around $1.5028-49. A break below would target the May 29 low at $1.5009, but the potential double-bottom pattern still cautions bears.
R 4: $1.5259/64 Former support line from May 29 low, 100-DMA
R 3: $1.5222 High Jul 11
R 2: $1.5199/5202 21-DMA, Low Jun 27
R 1: $1.5169/72 High Jul 16
Latest price: $1.5104
S 1: $1.5028/35/49 Low Jul 15
S 2: $1.5009/18 Low May 29, High Jul 10
S 3: $1.4966/68 High Jul 8, Monthly Bollinger band base
S 4: $1.4832/45/55 Reversal low Mar 12th, Low Jul 10

USD/JPY moved lower to test support around the dly Ichimoku cloud top and 21-DMA, but already broke above/below these levels. Daily studies bearish and mthly studies reversing in overbought levels, initial supp at Y99.08/09, below here strong support around dly cloud top at Y98.75. However, bulls look to retest Y100.00 and a close above would add pressure higher.
R 4: Y101.06 Resistance line from May 22
R 3: Y100.48/77/79 High Jul 15, Low Jul 9, May 9 high
R 2: Y99.90/94/95/100.07 Daily Tenkan, Highs Apr 11, Jul 16
R 1: Y99.70 23.6% of Y93.79-101.53
Latest price: Y99.35
S 1: Y99.08/09 Low Jul 15, Hourly low
S 2: Y98.75/76 Dly Ichimoku cloud top, Weekly Tenkan
S 3: Y98.57 38.2% of Y93.79-101.53
S 4: Y98.04/10/15/27 100-DMA, 100-month MA, Low Jul 11

EUR/JPY continues to trade towards the dly Bolli top without testing it as res, currently holds below initial res at Y130.77/82. Further res is at Y131.12/20. Studies are mixed, dly studies show a buy-signal but near overbought levels. Weekly studies may reverse higher but monthly studies may reverse lower. Failure to break and close above Y131.00 could send the pair lower.
R 4: Y132.77/87 High May 14, High May 23
R 3: Y132.04/08 50.0% of Y169.96-Y94.12, May 31 high
R 2: Y131.12/20 High Apr 11, Daily Bollinger band top
R 1: Y130.77/82 Hourly high, High Jul 16
Latest price: Y130.50
S 1: Y129.70/87/97 High Jun 21, 55-DMA, Low May 23
S 2: Y129.26-42 Rising channel base, 21-DMA, Weekly Tenkan, Daily Tenkan
S 3: Y128.93/98 High May 1, Low May 8
S 4: Y128.40/45 200-month MA, High Jun 26

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