EURGBP- Consolidates With Upside Bias.
EURGBP- With the cross halting its weakness and consolidating, it looks to recover higher. On the downside, support lies at the 0.7150 level where a break will expose the 0.7100 level. Further down, support comes in at the 0.7050 level where a violation will turn attention to the 0.7000 level. On the upside, resistance lies at the 0.7250 level where a violation if seen will turn focus to the 0.7300 level. Its daily RSI is bullish and pointing…Continue
EURJPY: Bullish On Corrective Recovery
EURJPY- With a third consecutive day of recovery now underway, further strength is envisaged in the days ahead. On the downside, support comes in at the 127.00 level where a break will aim at the 126.00 level. A turn below here will target the 125.50 level with a breach turning focus to the 125.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, resistance resides at the 129.00 level where a break if…Continue
GBPJPY: Halts Weakness, Eyes Recovery
GBPJPY: With GBPJPY closing higher on Tuesday on a rejection candle off its key support zone at 175.30/49, it faces recovery risk in the days ahead. On the downside, support comes in at the 175.50 level where a violation will aim at the 174.50 level. A break below here will target the 174.00 level followed by the 173.00 level. Further down, support lies at the 172.00 level. On the upside, resistance lies at the 177.00 level followed by the 178.00…Continue
USDJPY Faces Downside Pressure On Price Failure
USDJPY: With the pair capping its gains at 120.84 level to decline on Monday, further weakness is envisaged. On the upside, resistance resides at the 120.50 level with a turn above here aiming at the 121.00 level. A break will target the 121.50 level. Further out, resistance comes in at the 122.00 level where a violation will aim at the 122.50 level. Its daily RSI is bearish and pointing lower supporting suggesting further weakness. On…Continue