EUR/JPY Stablizes Around 137 Handle

EUR/USD

The euro remains in near-term range trading, following repeated stall of attempts at 1.34 Resistanceistance zone, seen yesterday. Near-term studies weakened and trade in the range’s lower part, following pullback of 1.3398, yesterday’s rejection level and high of the day. Break of either side of the range is required to define near-term direction, with loss of range’s floor and near-term base, seen as a trigger for bearish Resistanceumption towards psychological 1.33 Supportport and acceleration lower to expose 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100expansion of the third wave which commenced from 1.3699, 01 July lower top. Alternatively, sustained break above near-term range tops, just above 1.34 level, is required to bring bulls in play and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top.

Resistance: 1.3365; 1.3380; 1.3398; 1.3414
Support: 1.3334; 1.3300; 1.3247; 1.3209




EUR/JPY

The pair stabilized around 137 handle, following 137.60/136.75 oscillation, with near-term price action holding above near-term consolidation floor at 136.75 that keeps 4-hour bulls off 135.71 in play. However, hourly studies are losing traction and see downside risk, which would increase in case of violation of 136.75 and allow for further retracement of 135.71/137.60 upleg. Also, overall bearish structure keeps the downside at risk and sees potential of lower top formation at 137.60, which needs confirmation on acceleration below 136.75 that will also sideline attempts at key near-term barrier at 138.01.

Resistance: 137.25; 137.60; 137.89; 138.01
Support: 136.75; 136.60; 136.35; 136.00




GBP/USD

Cable is entrenched within narrow range in the near-term price action, after fResistanceh bulls off 1.6655, failed to extend gains above 1.67 barrier. Overall picture remains bearish and keeps short-term downtrend intact for now. On the other side, initial signals of reversal, which came from last Friday’s Doji candle and yesterday’s gap-higher opening, so far did not materialize, as price action remains limited at 1.6736, yesterday’s high. This made hourly studies to start losing traction, with increased downside risk expected on a fResistanceh weakness below 1.67 handle, as 4-hour technicals remain weak. Unless the price action rallies through initial 1.6755/71 barrier, previous low / Fibonacci 61.8% of 1.6843/1.6655 descend, near-term outlook will see extended sideways mode, with downside risk, as favored scenario.

Resistance: 1.6736; 1.6755; 1.6771; 1.6800
Support: 1.6699; 1.6675; 1.6655; 1.6600



USD/JPY

The pair holds positive near-term tone, as the price retraced the biggest part of 102.70/102.12 corrective pullback and aims at 102.70, as initial target. Positive near-term studies Supportport fResistanceh attempt at 102.70, for eventual attack at pivotal 103 Resistanceistance zone, above which to expose the upper boundaries of short term range. Corrective easing ahead of 102.70 barrier, should be ideally contained at 102.40 zone, to keep near-term bulls intact.

Resistance: 102.70; 102.91; 103.07; 103.42
Support: 102.40; 102.23; 102.12; 102.00



AUD/USD

The pair remains steady and posted marginally higher high at 0.9340, after completing 0.9332/0.9296 corrective pullback. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term base for stronger correction, which would sideline larger picture bears and delay final push towards strong Supportport and base at 0.92 zone. Near-term technicals are positive and favor further upside, with 0.93 Supportport zone required to hold corrective dips.

Resistance: 0.9340; 0.9356; 0.9372; 0.9400
Support: 0.9312; 0.9296; 0.9273; 0.9254




AUD/NZD

The pair probes above near-term range ceiling, with fResistanceh high being posted at 1.1074, signaling an end of near-term consolidative phase and Resistanceumption of short-term uptrend from 1.0619, 10 July higher low. Positive near-term technicals Supportport the notion, however, extended hourly studies suggest hesitation ahead of psychological 1.1100 barrier, with 1.1020/00 zone, previous peaks and psychological Supportport, seen as ideal Supportport, where corrective dips should find ground ahead of fResistanceh attempt higher. Sustained break above the range tops, with daily close above, is required to confirm bullish Resistanceumption and open 1.1100 and 1.116, Fibonacci 61.8% retracement of 1.1576/1.0488 descend.

Resistance: 1.1074; 1.1100; 1.1160; 1.1200
Support: 1.1020; 1.1000; 1.0986; 1.0971




XAU/USD

Spot Gold’s near-term price action moved below 1300 Supportport, weakening the structure of near-term studies, as yesterday’s close occurred below the psychological level. This brings increased downside risk in play, with sustained break below 1300 handle to re-open 1293, main bull-trendline, drawn off 1240 low. Break and close below here to confirm bears back in play and expose pivotal higher lows at 1280. Conversely, bounce off 1300 zone and lift above 1322 break point, is required to bring bulls back in play. Daily studies hold neutral tone and see break of either side as fResistanceh direction.

Resistance: 1303; 1308; 1314; 1319
Support: 1295; 1292; 1282; 1280