Great British Pound vs. Japanese Yen (GBP / JPY)
Midday Report
In this report, we added the trend indicator's representative -AROON- in purpose and we see how AROON up -colored in green- started to passover the value of 30.00. Actually, this is the first daily positive sign on AROON since the opening of this week although AROON down -red one- is moving freely above the value of 70.00. When we add this new sign to the positive divergence of RSI 14, we can say that the pair is on its way to revisit the sell wall between 130.50-130.80. A break of these zones will accelerate the proposed bullishness towards 132.50 followed by 133.60. To recap, we keep our morning outlook unchanged for the rest of the day.
The trading range for today is among key support at 126.70 and key resistance at 132.50.
The general trend over short term basis is to the downside targeting 118.80 as far as areas of 150.75 areas remain intact.
Morning Report Weekly Report
Eye on the pair
| Support | 128.75 | 128.00 | 127.40 | 126.80 | 125.50 |
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| Resistance | 129.45 | 130.00 | 130.50 | 130.80 | 131.65 |
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| Recommendation | Our morning expectations remain valid. |
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
Once more, 88.6% Fibonacci levels around 105.90 provided the pair with a very solid support and pushed it upwards. This is a rational reason to wait and see if the pair intends to breach it to complete the harmonic butterfly pattern, where its D point resides at 104.30 or not? Also, there is another solid support around 105.40 zones and therefore, we will keep the neutrality as a guide until a clearer sign appears.
The trading range for today is among key support at 104.30 and key resistance now at 108.50.
The general trend over short term basis is to the downside, targeting 97.90 as far as areas of 132.50 remain intact.
Morning Report
Weekly Report
| Support | 106.20 | 105.90 | 105.40 | 104.95 | 104.30 |
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| Resistance | 106.90 | 107.30 | 107.60 | 108.00 | 108.50 |
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| Recommendation | Based on the charts and explanations above our opinion is, staying aside until we catch a significant sign to pinpoint the coming big move. |
Euro vs. Great British Pound (EUR / GBP)
Midday Report
Obeying our suggested morning scenario flawlessly, the royal pair inclined towards the sensitive areas between 0.8255 and 0.8245. This action was needed to relieve momentum indicator before resuming the downside rally towards 0.8150 -full correctional level of CD leg- of the bearish harmonic structure. Ribbons lines -EMA 10to 80- are still acting as a ceiling that protect the overall bearish scenario.
The trading range for today is among the key support at 0.8110 and key resistance now at 0.8320.
The general trend over short term basis is to the downside targeting 0.7780 as far as areas of 0.8965 remain intact.
Morning Report
Weekly Report
| Support | 0.8245 | 0.8215 | 0.8180 | 0.8140 | 0.8085 |
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| Resistance | 0.8295 | 0.8320 | 0.8360 | 0.8380 | 0.8400 |
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| Recommendation | Our morning expectations remain valid. |