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CURRENCIES TECHNICAL ANALYSIS February.14

Euro

Bears regained control on Monday. The Asian recovery stalled around 1.0650. The spot bounced off the level and sharply dropped. Sellers kept pushing the euro downwards and reached 1.0600 in the evening. The resistance is seen at 1.0650, the support stands at 1.0600.

If a bearish tone persists we expect a breakout of the level 1.0600. The level 1.0550 is the next sellers’ target.



Pound

A fresh wave of the cable buying emerged during the early Asian session on Monday. The pound pushed away from 1.2400 and extended its gains up to 1.2540. Bulls failed to maintain control and gave the way to sellers who returned the spot to 1.2500. The current resistance is seen at 1.2600, the support exists at 1.2500.

The GBP/USD pair may face a downward rejection around 1.2500. In this scenario the spot may decline to 1.2400.




Yen

The USD/JPY was neutral/positive during the day. Buyers made an attempt to reverse some losses and pushed the price up to 114.00 where a fresh selling interest weighed on the US dollar dragging the price downwards. The resistance exists at the level 114.00, the support comes in at 113.00

If a downward pressure persists the price will break 112.50 and will test 112.00.

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