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CURRENCIES TECHNICAL ANALYSIS January.25

Euro

The pair extended its consolidative pattern staying around 1.0750 on Tuesday. Sellers were strong enough not to let buyers higher, but they were too weak to seize control. However, bears are getting stronger every hour struggling for the level. The resistance is seen at 1.0750, the support stands at 1.0700.

We maintain bullish views until we see a break below 1.0650. The level 1.0800 is the next buyers’ target. On the other hand, sellers will keep trying to drag the price downwards. They aim at 1.0700 first, en route to 1.0650.



Pound

The bullish trend remained intact on Tuesday. The pound stayed range-bound to higher on yesterday’s trades. Sellers failed to move the spot below 1.2400 during the European session. The pair just tested the level and returned to the opening prices afterwards erasing all its daily losses. The current resistance is seen at 1.2600, the support exists at 1.2500.

A break below 1.2500 may return negative sentiment to the market. Should that mark break down sellers will lead the price towards 1.2400, en route to 1.2350.



Yen

Buyers fought back control on Tuesday. The pair broke 113.00 in the early trades and continued to move higher during the day. Buyers managed to reverse a half of its last week losses. The resistance is at 114.00, the support comes in at 113.00.

If the price breaks above the 114.00 hurdle the USD/JPY pair will move towards 115.00 in the coming sessions. If the level stands the US dollar will ease to 113.00.

 

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