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Greetings again, Everyone!
We see the other “Area of Focus” on the Current Dollar and Yen Intra-Day Weakness, as The Yen also follows several Key Areas and Channels moving forward.
Here are the Hourly Views of EUR/JPY and GBP/JPY with Commentary above, so give the Captures a Click for various Reference Levels.
Post-Time is 7:10 GMT.
The Euro Yen looks towards the Daily Static Resistance Area of the 138.30’s for a Larger “Re-Test” of the 139.20’s Resistance Level. If Price can be Held above this Area and form a New Resistance-Becomes-Support “Transitive Rollover” Area… then the 140.00 and 141.00 Areas are back In View in the Near-Term. Any Downside-Risk Corrections may be limited back to the 137.10’s Static Support, down to just slightly out of The Channel at the 136.50’s Dynamic Support Area.
While The Queen looks towards 1.6800 in the near-Term, Her Cross, Pound Yen, looks towards the 163.00 Figure in the near-Term on the back of some of that Pound Momentum. Continuation through The Figure sees the 164.00 Handle next, as any significant Corrections should be Contained in the Near-Term by the 159.00/158.50’s Static Support Areas.
As always, plenty of Updates as we move throughout the Final Trading Day of the Week, and for more Immediate-Term Detail on the Four Majors, please have a look at the just-published “Currency Majors Technical Perspective” Report.
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