January 3, 2012
Current level - 1.2990
The pair is in a downtrend from 1.4250 top and the technical indicators on the larger frames are descending as trading is situated below the 50 and 200 daily SMAs, currently projected at 1.3384 and 1.3989.
The intraday outlook is positive above 1.2970 support area, with a crucial zone at 1.2910. Initial resistance on the upside is projected at 1.3020, followed by 1.3082 and the major hurdle at 1.3230.
Daily Technical Analysis on USD/JPY:
January 3, 2012
Current level - 76.83
The overall downtrend continues to be intact, aiming at new historical lows below 75.56. Technical indicators are still descending and crucial resistance on the daily frame is 80.20.
The downward pressure from 78.20 resistance area managed to push the trading lower, currently testing 76.50 support area. Minor intraday resistance can be spotted at 77.20 and next support below 76.50 lies at 75.56.
Daily Technical Analysis on GBP/USD
January 3, 2012
Current level - 1.5575
The currency pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.5714 and 1.6036.
The outlook on the lower frames is positive, with a reliable intraday support at 1.5540 and crucial one at 1.5470. Initial resistance can be found at 1.5690, followed by the major hurdle at 1.5780.