Greece got a four-month bailout extension, instead of the original six. Today, Greece has to provide a list of reform
measures to the eurozone. The BOJ monetary
policy meeting minutes have been released. The members agreed the
Japanese economy is steadily recovering on exports. Exports had shown signs of
picking up. At the early Asian session, the euro is trading lower against the Yen.
The cross has immediate support at 135.25. On the h4-chart, the
prices are making lower lows and lower highs formation. The weekly resistance is found between 136.60 and 136.90. The cross made a double top at 136.68. On the down side, the prices formed a base support between 132.38
and 132.28. The intraday resistance is set at 135.95. We
recommend selling below 135.25 with the targets at 135.00, 134.75, and 134.40. Besides, you are recommended fresh buying above 135.80 with the targets at 136.00, 136.25, and 135.65. The overall picture favors bears.
The Cable continues its rally against the Yen for four
weeks in a row. The prices are facing strong resistance at the 23.6 fib
level and the bullish top end channel. The prices gave an upside breakout on the
daily chart and closed above it. The pair is facing strong resistance at 184.20. If the prices close above 184.20, bulls
can challenge 187.00. The prices formed a support base at 181.50. The weekly support is seen at 181.90 and 181.00. The pound favors buying on dips against the
cross currencies. The intraday support is found at 182.80. We recommend
buying with sl 182.80 with the targets at 183.50, 184.00, and 184.15. The
BOJ monetary policy meeting minutes have just been released. Until the cross closes above 181.50, the long trade
remains in play. We still recommendg buying at 177.00.
The material has been provided by InstaForex Company – www.instaforex.com