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USDCAD TECHS

Still Looking For Gains

AUDUSD TECHS

Remains Vulnerable

EURJPY TECHS

Recent Highs Remain Intact

USDJPY TECHS

Holding Onto Gains

EURGBP TECHS

Bearish Risk

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  • RES 4: 105.16 High Nov 13
  • RES 3: 104.95 76.4% retracement of the Nov 11 - Jan 6 downleg
  • RES 2: 104.76 High Nov 24
  • RES 1: 104.40/54 High Jan 11 / 1.0% 10-dma envelope
  • PRICE: 103.67 @ 16:50 GMT Jan 18
  • SUP 1: 103.53 Low Jan 13
  • SUP 2: 102.95 Low Jan 7
  • SUP 3: 102.59 Low Jan 6 and the bear trigger
  • SUP 4: 102.02 Low Mar 10

USDJPY traded moderately lower Tuesday, but made no real challenge on last week's lows. Attention is on 104.23, the bear channel top drawn off the Mar 24 high. The channel has contained recent gains however a break would signal a reversal. This would open 104.76, Nov 24 high. On the downside, support to watch lies at 103.53, Jan 13 low. A move through this low would highlight a possible reversal from the channel top and allow for a deeper pullback.