Major Technical Analysis

euro

The European currency yesterday rallied also with high levels of volume to pass the major resistance level at 1.4550s and then 1.4600 again to close above 1.4630s. This move came after the euro confirmed the upside direction to set the upside target now at 1.4800 resistance area.
The trading range for today might be between the key resistance level at 1.4800 and the key support level at 1.4530.
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 1.4610 with a target at 1.4710 stop loss below 1.4560.

gbp

The British pound yesterday further confirmed the bullish trend after the technical oscillators moved to show the bullish pattern; after the pound rallied in a strong pattern to the upside resistance area around 1.9960s, today we expect the pound to progress towards the key resistance level at 2.0080s.
The trading range for today might be between the key resistance levels at 2.0100and the key support level at 1.9850.
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 1.9920 with a target at 2.0045, stop loss below 1.9850.

jpy

The dollar against the Japanese yen tended to move down in a strong move with high levels of volume despite the slight bullish move at the beginning of the trading session; in the meanwhile the technical indicators readjusted to show the downside move until the key support area at 112.80s.
The trading range for today will be between the key resistance at 114.60 and the key support at 112. 20.
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 113.85 with a target at 113.00, stop loss above 114.35.