EUR/USD Current price: 1.2841


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The EUR/USD opened the week slightly higher, aiming to get rid of the short term negative tone, as the hourly chart shows price heading higher nearing a bearish 20 SMA while indicators head higher and approach their midlines, still in negative territory. An upward correction seems possible, as bigger time frames present the same technical picture, although steady gains above 1.2880/90 area are required to confirm further advances today, with scope to test 1.2950 price zone. 



Support levels: 1.2810 1.2785 1.2744



Resistance levels: 1.2890 1.2920 1.2950



EUR/JPY Current price: 131.94


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The EUR/JPY erased all of past week gains at the opening, falling to 130.96 and leaving a big  gap following Japanese Economy Minister Amari´s comments, stating yen’s excessive strength has been largely corrected and further weakness could even be harmful. The hourly chart shows price however quickly recovering 100 pips, with price struggling to overcome 100 SMA, around current levels, although indicators head strongly south around their midlines: if price is unable to recover the 132.00 level, a retest of the daily low is likely although losses will be less abrupt that this initial market move. As for all yen crosses, strong buying interest surges on dips, and today’s not the exception: selling remains a risky option, while waiting to buy on dips will likely offer better results.



Support levels: 131.50 131.10 130.70 



Resistance levels: 132.00 132.40 132.90



GBP/USD Current price: 1.5177


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GBP/USD also gapped higher, although the pair maintains a negative bias according to the hourly chart, as price quickly retraces, holding below  a bearish 20 SMA and with indicators heading back lower in negative territory after correcting oversold readings. In the 4 hours chart  the technical picture is also bearish, with 1.5130 area sight, 61.8% retracement of its latest bullish run. Steady losses below will open doors for a test of the 1.50 area later this week.



Support levels: 1.5170 1.5130 1.5285 



Resistance levels: 1.5215 1.5250 1.5290



USD/JPY Current price: 102.77


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The USD/JPY recovered after the initial knee jerk, trading well above 100 SMA in the hourly chart, while indicators stalled right above their midlines and start turning flat. Comments from Japan Economy Minister had done little so far to discourage the usual buy on dips in the pair: a gap is still open towards 103.20 area, immediate resistance level. Steady gains above this last should signal a test ok key 103.60 resistances, while once above, the road is pretty clear up to 105.00.



Support levels: 102.40 102.10 101.90 



Resistance levels 103.20 103.60 104.00











































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