Major Technical Analysis

euro

The European currency yesterday rallied to the upside since it succeeded in launching the bullish wave, breaking through the major resistance level at 1.450; meanwhile the solid reversal base played a significant role in helping the euro maintain it's upside wave, today we expect the euro to progress the upside trend as well.
The trading range for today might be between the key resistance level at 1.4620 and the key support level at 1.4400.
The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.
We expect buying Euro above 1.4480 with a target at 1.4545 stop loss below1.4440.

gbp

The British pound yesterday traded above the reversal pattern it formed in the past three days and that's despite the low levels of volume; on the other hand the short term technical oscillators pointed to reversal signals with targets at 2.0000 in the upcoming days and it could be a sign for the retracement's end.
The trading range for today might be between the key resistance levels at 1.9950 and the key support level at 1.9750.
The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050
We expect buying sterling above 1.9785 with a target at 1.9890, stop loss below 1.9735.

jpy

The dollar against the Japanese yen yesterday fluctuated at the peak of the bullish wave in neutral patterns with low levels of volume reflecting the weakness of the upside move; hence, the pair is expected to start dropping down as it couldn't break through the descending trend line, confirming the technical parameters pattern that pointed out the move last week.
The trading range for today will be between the key resistance at 115.00 and the key support at 113. 00.
The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.
We expect selling USD/JPY below 114.45 with a target at 113.60, stop loss above 114.85.