The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated below the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
I think, that the consolidation pattern below 1.3915 is not over yet and one more sell-off is to be expected, so my outlook is negative, for 1.3652, en route to 1.3520. Dynamic resistance is projected at 1.3830 and crucial on the upside is 1.3869.
| Resistance | support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3869 | 1.395 | 1.3653 | 1.3515 |
| 1.3915 | 1.427 | 1.3515 | 1.3145 |
USDJPY
The overall downtrend continues to be intact, aiming at new historical lows below 75.95. Technical indicators are still descending and crucial resistance on the daily frame is 80.20.
Yesterday's spike-high to 77.05 resistance area failed and the current bias is negative, towards 76.30 and 75.95 low.
| Resistance | support | ||
| intraday | intraweek | intraday | intraweek |
| 77.05 | 80.20 | 76.30 | 75.95 |
| 77.48 | 81.46 | 75.95 | 74.20 |
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
Although there were several attempts for a break through 1.5852 resistance area, all of them failed and until that level is intact my outlook will remain bearish for 1.5630 and 1.5495 major support zone. Intraday expect a downtrend for a break through 1.5705 dynamic support.
| Resistance | support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5822 | 1.5890 | 1.5630 | 1.5330 |
| 1.5853 | 1.6075 | 1.5495 | 1.4950 |
