EUR/USD Current price: 1.3808
With New Zealand closed on holidays markets start the week thinner than usual, with yen weakness excelling: Asian news reported that Japan scrambled jets in response to Chinese military aircraft flying near the Okinawa area. Both countries dispute the sovereignty over some islands, currently under Japans’ administration, with oil reserves under the sea near them. As for the rest of the majors, they stand quite firm around Friday’s close, with the EUR/USD holding right above the 1.3807 figure. Short term readings maintain a quite neutral stance, but the overall bullish trend prevails ahead of a quite entertaining fundamental week, that includes inflation readings around the world and FED monetary policy decision. The 1.3830/40 area continues to be strong, and only a clear break above it will see the pair running higher today.
Support levels: 1.3770 1.3735 1.3710
Resistance levels: 1.3835 1.3860 1.3890
EUR/JPY Current price: 134.83
EUR/JPY jumped to a fresh 4-day after weekend news retracing some after flirting with 135.00. The gap left a strong upward momentum in the hourly chart, although a retracement below 134.50 will jeopardize current recovery. Nevertheless, the hourly chart shows price held above its 100 SMA during Friday’s close which gives the pair some upward scope in the short term. In the 4 hours chart technical readings are also heading higher in positive territory, yet a breach of the 135.00 figure is required to confirm further intraday advances.
Support levels: 134.50 133.90 133.55
Resistance levels: 134.90 135.60 136.00
GBP/USD Current price: 1.6174
The GBP/USD holds range bound below the 1.6200 mark that has turned into a big issue for bulls, as the pair has been unable to sustain gains above it. The hourly chart shows price developing below its 20 SMA and indicators in negative territory limiting the upside in the short term. In the 4 hours chart technical readings are far from giving clear direction clues, with the downside protected by 1.6120 static support.
Support levels: 1.6120 1.6085 1.6040
Resistance levels: 1.6225 1.6260 1.6310
USD/JPY Current price: 97.64
The USD/JPY surged to 97.77 with the opening, standing above a still bearish 100 SMA in the hourly chart, currently offering dynamic support around 97.60. Indicators in the mentioned time frame head strongly up reflecting the gap higher, yet with price retracing near the support, next candle opening may see indicators turning back south and limiting the chances of more advances. In bigger time frames, the bearish tone prevails, with a break below 97.20 confirming the downward continuations.
Support levels: 97.60 97.20 96.80
Resistance levels: 97.90 98.40 98.80
AUD/USD Current price: 0.9582
The AUD/USD test 0.9570 support, holding a negative tone both in the 1 and the 4 hours charts, although with no signs of bearish strength at the time being. Still the risk of a downside continuation is present, with a break below recent lows favoring a quick approach to the 0.9520 immediate support.
Support levels: 0.9570 0.9520 0.9490
Resistance levels: 0.9630 0.9680 0.9720
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