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CURRENCIES TECHNICAL ANALYSIS January.30

Euro

The EUR/USD had a positive day on Friday. Having bounced off 1.0650 the currency pair returned to a growth. Sellers pushed the euro higher and broke the level 1.0700 in the mid-European session. The upward impetus, however, lost its legs soon. The recovery stalled above 1.0700. The resistance is seen at 1.0750, the support stands at 1.0700.

The downward movement would have a chance if the spot broke below 1.0650. Sellers would push the price towards 1.0550 in this case. If the EUR/USD pair stays above the current hurdle the price may recover to 1.0750.



Pound

Sellers moved the price lower on Thursday. However, the price found a support at 1.2500 which rejected the spot upwards in the early trades on Friday. The cable reversed some daily losses growing towards 1.2600. The current resistance is seen at 1.2600, the support lies at 1.2500.

Buyers need to break above 1.2675 to erase their recent losses. On the other hand, a break below 1.2500 will ease the current upward pressure. Bears might try to reach 1.2400.



Yen

The USD/JPY pair closed last week in green. Buyers pushed the US dollar higher in the early Asian trades. They even managed to pierce 115.00 at European opening. However, bulls failed to advance further and stayed around the level till the end of the day. The resistance is at 115.00, the support comes in at 114.00.

Sellers need to break below 114.00 to return control. If the level stands a fresh buying interest will push USD/JPY to 116.00.

 

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