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CURRENCIES TECHNICAL ANALYSIS September.08

Euro

The euro was neutral on Wednesday. The price spent the day in a consolidation close to the level 1.1270. The resistance is 1.1270, the support exists at 1.1200. Buyers need to break the current resistance to go higher. The next buyers’ target is the level 1.1300. If the price breaks below 1.1200 the euro may extend its downward momentum towards 1.1130.

08_09_2016 eurusd

Pound

The pound got under pressure on yesterday’s trades. Sellers pushed the price from the local high below the nearest level 1.3360. The downward impulse faded just after the break of 1.3360. The instrument spent the day close the broken level. The resistance comes in at 1.3360, the support is at 1.3200. Buyers will remain strong as long as the GBP/USD is above 1.3200. The levels 1.3400 and 1.3500 are the buyers’ targets.

08_09_2016 gbpusd

Yen

The USD/JPY spent the day at the session lows – 101.40. The price partly reversed some of its losses, but was unable to grow higher than 101.90. The resistance lies at 102.50, the support stands at 101.40. We do not exclude a further correction towards 102.00. Buyers will have to break the level to go further. The overall outlook remains bearish and we expect a further move below 101.40. The level 100.40 is the next sellers’ target.

08_09_2016 usdjpy

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