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CURRENCIES TECHNICAL ANALYSIS October.24

Euro

The bearish trend remained intact on Friday. Sellers broke the level 1.0900 and moved lower. The downward pressure eased at 1.0878 where the price started a consolidation phase. The resistance is seen at 1.0900, the support stands at 1.0830.

We believe the pair will remain under pressure. After the support level of 1.0900 breakthrough down the way to the level 1.0830 will be opened.
24_10_2016_eurusd
Pound

Sterling was little changed on Friday and remained prone to more weakness. Sellers pierced the level 1.2200 downwards and immediately returned above it. The price closed the day above 1.2200. The current resistance is seen at 1.2300, the support lies at 1.2200.

We would be selling the pound only if the price drops below 1.2200. Otherwise the pair will grow to 1.2300.
24_10_2016_gbpusd
Yen

The USD/JPY was growing the first half of Friday. Buyers broke the level 104.00, but failed to hold on gains. The price sharply fell below the level towards the price opening. The pair gets under pressure on every attempt to grow above 104.00. The level is defended by sellers which do not want to retreat.
The resistance is at 104.00, the support comes in at 103.00.

The USD/JPY pair will remain under pressure while it trades below 104.00. Only a move above the resistance will weaken sellers’ positions.

24_10_2016_usdjpy

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