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CURRENCIES TECHNICAL ANALYSIS February.13

Euro

The euro remained well offered on Friday. Sellers pushed the price to fresh lows. The spot touched 1.0600 and bounce off the handle. The major rolled back and reversed a minor part of its daily losses. The resistance is seen at 1.0650, the support stands at 1.0600.

If the price remains below 1.0650 sellers may extend their gains towards 1.0550.



Pound

The GBP/USD traded mixed on Friday. The pound declined the first part of the day and recovered the second one. Sellers managed to break below 1.2500 in the Asian session and even drove the spot lower. The GBP/USD pair posted a daily low at 1.2450. Sellers ran out of steam soon after the level touch. The cable erased some of its daily losses afterwards. The current resistance is seen at 1.2500, the support lies at 1.2400.

A move below 1.2450 will confirm sellers’ strength. In this scenario bears may drag prices towards 1.2300.



Yen

The USD/JPY pair completed an upside impulse and turned bearish on Friday. The spot faced a downward pressure around 114.00 and sharply dropped to its immediate support at 113.00. The handle limited sellers' further advance rejecting the price upwards. The resistance is at 114.00, the support comes in at 113.00.

If the price remains above 113.00 the upbeat tone will persist towards 114.00. A failure to hold above the level will suggest a new wave of weakness towards 112.00.

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