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CURRENCIES TECHNICAL ANALYSIS January.23

Euro

The EUR/USD traded mixed on Friday. Sellers pushed the common currency towards 1.0650 and broke the level in the mid-European session. Buyers returned control and pushed prices higher ahead of the NY opening. They returned the spot above 1.0650 and trended upwards up to 1.0700. The resistance is seen at 1.0700, the support stands at 1.0650.

If the price remains above 1.0650 buyers will extend their gains towards 1.0750.



Pound

The GBP/USD traded mixed on Friday. The pound was declining the first part of the day and growing the second one. Sellers managed to reach 1.2259 in the mid-European session when they suddenly lost impetus. Buyers fought back control and reversed all daily losses by the end of the day. The current resistance is seen at 1.2400, the support lies at 1.2300.

A move above 1.2400 will confirm buyers’ strength. In this scenario bulls may drag prices towards 1.2450.



Yen

The pair had a mixed day on Friday. USD/JPY was growing in the Asian session and reversed its direction in the mid-European one. After posting a daily high at 115.36 the US dollar turned around and lost all its daily gains. Sellers pushed the spot lower and closed the day just above 114.00. The resistance is at 115.00, the support comes in at 114.00.

If the price remains above 114.00 the upbeat tone will persist towards 116.00. A failure to hold above the level will suggest a new wave of weakness towards 113.00.

 

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