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EUR/USD Remains Bearish; USD/JPY Moves Sideways

ByOlimpiu Tuns
Published 07/29/2014, 09:14 AM
Updated 07/09/2023, 06:31 AM

EUR/​USD: pair is still bearish

The EUR/USD remain bear­ish on the daily chart, but it is trad­ing near sup­port (1,3399), we could have a bounce back on short term, the price could come to test 50% level. The resis­tance is at 1,3477 and we also have a descend­ing trend­line here. If the price will man­age to stay below 50% then is pos­si­ble to see new lows, we also have sup­port at 1,3293 and at 38.2%.

Tomor­row is impor­tant to watch eco­nomic data from Spain, these indi­ca­tors can have some impact on this pair. You also have to take a look at U.S. eco­nomic indi­ca­tors, tomor­row will be released the ADP Non-​Farm Employ­ment Change, Advance GDP and later will have the FOMC statement.
EUR/USD Daily Chart



USD/JPY: dol­lar con­tinue to grow

You can see on H4 chart that the price has man­aged to break the descend­ing chan­nel and now is going upward. We have resis­tance at 102,11 and at 102,26, the sup­port is at 101,75. On Daily chart the USD/JPY is mov­ing side­ways after he got out of the ascend­ing chan­nel, is trad­ing between 101,05 and 102,78. There is also a descend­ing trend­line on Daily chart that is act­ing as resis­tance. We don’t have a clear direc­tion until this range is completed. USD looks very strong, this bullish movement can continue.



USD/JPY Hourly Chart


USD/JPY Daily Chart

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