The euro was positive during Thursday. Buyers were able to push the price higher and set a new local high in the European session. However, the pair retreated from the daily high after the ECB meeting. The resistance is seen at 1.1350, the support stands at 1.1270. If the price breaks the level 1.1270 the pair will fall to 1.1200. If this level can hold the pair could escalate up to 1.1350.
The bullish tone that started mid August slightly weakened yesterday. The pair got under the selling pressure after disappointing statistics in the UK. The current resistance is seen at 1.3360, the support exists at 1.3200. We remain bearish on the outlook for the currency. The nearest buyers target is the level 1.3360. To trigger additional downward movement the price needs to break the level – 1.3300. The level 1.3200 is the next sellers’ target.
The pair closed the day in green figures. Buyers were able to push the price upwards from the support 101.40. The resistance is at 102.50, the support comes in at 101.40. If the USD/JPY does make breakout of the level 102.50 the price will grow to 103.50. A downtrend will start as soon, as the pair drops below support level 101.40.
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