USDJPY - renewed safe-haven demand pushes yen to fresh highs, n/t focus at key level at 107.60

EURUSD

Near-term studies are mixed, as the pair’s recovery attempt off last week’s low at 1.1232, remains capped by sideways-moving daily 20SMA at 1.1308 and holds below 1.1320 pivot (Fibo 38.2% of 1.0820/1.1463 upleg.
However, The Euro is gaining traction on daily chart, after strong pullback from 1.1463 peak, was contained by rising daily 30SMA, which continues to underpin fresh upside attempts.
Sustained break above 1.1308/20 is needed to generate stronger bullish signal for further recovery towards next strong barrier (daily Tenkan-sen line) at 1.1348.
Otherwise, prolonged consolidation with the downside remaining at risk, could be expected on failure to break initial barriers.
Daily Kijun-sen line offers immediate support at 1.1260, guarding key 1.1232 low, loss of which will be bearish.

Res: 1.1320; 1.1348; 1.1375; 1.1409
Sup: 1.1260; 1.1232; 1.1217; 1.1200






GBPUSD

Cable is attempting to penetrate daily cloud base (currently at 1.4190), on bounce from session low at 1.4129, where Friday’s low offered solid support and contained dips.
This keeps the downside protected for now, guarding 1.4088/1.4004 pivots, however, prevailing neutral tone of near-term studies, sees the action limited.
Also, weak daily studies keep the downside vulnerable and see scope for extended consolidation between 1.4129 and 1.4240 (Friday’s high, reinforced by sideways-moving daily 30SMA).
Sustained break here is needed to recovery resumption towards next barriers at 1.4248 (daily Kijun-sen) and 1.4285 (Fibo 76.4% of 1.4345/1.4088 downleg).
On the other side, daily cloud base continues to weigh and failure to firmly break it, will keep the downside under pressure.

Res: 1.4200; 1.4240; 1.4258; 1.4285
Sup: 1.4174; 1.4130; 1.4088; 1.4038





USDJPY

The pair recovers overnight losses that found footstep just above key 107.60 base, following gap-lower opening. Fresh rally is eyeing 108.54 barrier (Fibo 38.2% of 109.71/107.82 downleg), after cracking former session high at 108.44.
If rally fills the gap (extension above 108.67/74, Friday’s closing price / high is needed), this will generate bullish signals for further near-term recovery.
Such scenario is seen unlikely for now, as firm bearish setup of daily studies favors lower top formation and fresh push lower, as key 107.60 support is now in focus.
However, prolonged consolidation above 107.60 base could be anticipated, before larger bears resume.

Res: 108.58; 108.74; 109.12; 109.53
Sup: 108.00; 107.82; 107.60; 107.00





AUDUSD

Aussie is regaining traction and looks to fill overnight’s gap, which was triggered by strong fall in oil prices.
Dips were contained above initial support at 0.7621/17 (10SMA / 14 Apr low), keeping intact overall bullish structure, which resulted in posting fresh marginally higher high at 0.7735 last week.
Near-term technicals are returning into bullish setup, while structure of daily studies remains bullish and favors renewed attempts higher, for firm break though tops of short-term congestion and resumption of larger uptrend from 0.6825 (low of 15 Jan).
However, further consolidation under 0.7735 peak cannot be ruled out, while only close below 0.7608 (daily 20SMA), would signal a pause in upside attempts and push the price in the lower part of short-term 0.7475/0.7735 range).

Res: 0.7735; 0.7769; 0.7810; 0.7864
Sup: 0.7629; 0.7608; 0.7583; 0.7547