Great British Pound vs. Japanese Yen (GBP / JPY)
Midday Report
The pair inclined during the previous session but the classical bearish descending channel is still controlling the bearishness until now. Stochastic moves within overbought areas and therefore the bearishness is still in favor but we have to watch out the daily closing very carefully to see if the pair will be able to get out from the channel or it will continue trending downwards.
The trading range for today is among key support at 132.90 and key resistance at 140.50.
The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 146.20 areas remain intact.
Weekly Report Morning Report
| Support | 136.20 | 135.50 | 135.00 | 134.90 | 134.20 |
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| Resistance | 137.30 | 138.00 | 138.40 | 139.10 | 140.00 |
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| Recommendation | Based on the charts and explanations above our opinion is, waiting until clear signs appear in order to pinpoint the coming big move. |
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
The pair inclined but it is presently touching the resistance line of the minor bearish channel, where we believe that the bearishness might start once more depending on our captured bearish AB=CD pattern of harmonic studies. Henceforth, we keep our morning expectations as far as 125.20 remains intact.
The trading range for today is among key support at 120.90 and key resistance now at 126.35.
The general trend over short term basis is to the downside, targeting 115.00 as far as areas of 132.50 remain intact.
Weekly Report Morning Report
| Support | 123.60 | 123.15 | 122.80 | 122.10 | 121.70 |
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| Resistance | 124.65 | 125.00 | 125.50 | 126.35 | 126.80 |
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| Recommendation | Our morning expectations remain valid |
Euro vs. Great British Pound (EUR / GBP)
Midday Report
The pair is moving inside the same levels for the 5th consecutive day. We hold onto our morning expectations but actually we need a clear breakout and daily closing above 0.9140 zones in order to resume the CD leg rally of the harmonic structure which is mainly targeting 0.9290 zones.
The trading range for today is among key support at 0.8935 and key resistance now at 0.9205.
The general trend over short term basis is to the upside, targeting 0.9720 as far as areas of 0.8400 remain intact.
Weekly Report Morning Report
| Support | 0.9030 | 0.9000 | 0.8965 | 0.8935 | 0.8905 |
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| Resistance | 0.9115 | 0.9140 | 0.9170 | 0.9205 | 0.9235 |
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| Recommendation | Our morning expectations remain valid |