FOREX:Yen Gains as RSI,Suggest Short-Term Top: Major Support and Resistance 04.05.2018

04.05.2018 / 16:49

Rating:

EUR/USD -- Finds support from 233-DMA; pair stays bearish
on closes below 1.2114
* 3rd resistance: 1.2070-90, January breakout area
* 2nd resistance: 1.2056, April 27 low
* 1st resistance: 1.2018, 200-DMA
* Spot: 1.1985
* 1st support: 1.1938, May 2 low
* 2nd support: 1.1932, 233-DMA
* 3rd support: 1.1860, pivot s3

GBP/USD -- Bearish momentum persists; 21-DMA set to cross
lower the falling 55-DMA, could ignite further sales to keep
cable on path toward double-top ~1.3100 target; a close above
1.3712 risks short squeeze
* 3rd resistance: 1.3712-13, neckline, April 30 low
* 2nd resistance: 1.3688, midpoint of May 1 losses
* 1st resistance: 1.3630, May 3 high
* Spot: 1.3577
* 1st support: 1.3540-47, 200-DMA, year-long trendline
* 2nd support: 1.3451, 233-DMA
* 3rd support: 1.3408, 38.2% Fibonacci retracement of rally
since October 2016 flash crash

USD/JPY -- nine-day RSI signals corrective pullback toward 21-DMA on mean reversion;
conversion line at 109.29; bullish above 108.16
* 3rd resistance: 110.22, 200-DMA
* 2nd resistance: 110.04, May 2 high
* 1st resistance: 109.43, midpoint of May 3 range
* Spot: 109.06
* 1st support: 108.75, 23.6% Fibonacci retracement of gains
since March 26
* 2nd support: 108.36, pivot s2
* 3rd support: 108.02, cloud top

AUD/USD -- bulls get close above Dec. 8 0.7502,
signals false break, relief rebound may unfold
* 3rd resistance: 0.7650, 21-DMA
* 2nd resistance: 0.7621, April 24 high
* 1st resistance: 0.7561, session high
* Spot: 0.7541
* 1st support: 0.7486, May 3 low
* 2nd support: 0.7473-76, May 1-2 lows
* 3rd support: 0.7373, June 2017 low

Source Bloomberg Pro Terminal

Trader Velizar Mitov

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FOREX:Yen Gains as RSI,Suggest Short-Term Top: Major Support and Resistance 04.05.2018

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