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FOREX: USDJPY tests 55- Weekly MA; Major Support and Resistance 13.08.2018

EUR/USD –trading heavy after breaching neckline of a  ; support around head-and-shoulders pattern
that started almost a year ago and that of a bearish descending triangle support around 1.1300, while a close below targets 1.1187
1.1300, while a close below targets 1.1187
* 3rd resistance: 1.1527-30, June 28-Aug. 6 lows
* 2nd resistance: 1.1509-10, June 21May 29 lows
* 1st resistance: 1.1427, pivot r3
* Spot: 1.1385
* 1st support: 1.1365, session low
* 2nd support: 1.1329, pivot s3
* 3rd support: 1.1187, 61.8% Fibonacci retracement of gains
since January 2017

GBP/USD –No respite for longs as cable trades heavy
* 3rd resistance: 1.2958-60, July 19 low-Aug. 8 high
* 2nd resistance: 1.2837, Aug. 10 high
* 1st resistance: 1.2781, pivot r1
* Spot: 1.2751
* 1st support: 1.2694, pivot s2
* 2nd support: 1.2589, June 21, 2017 low
* 3rd support: 1.2384, last Fibonacci support of gains since
October 2016

USD/JPY — Enters the cloud and looks to close below 55-DMA
to ascertain bearish momentum; 55-weekly MA at 110.22 may
provide support
* 3rd resistance: 111.49, 21-DMA
* 2nd resistance: 111.13, conversion line
* 1st resistance: 110.77, 55-DMA
* Spot: 110.26
* 1st support: 109.88, 38.2% Fibonacci retracement of gains
since March 26
* 2nd support: 109.76, cloud bottom
* 3rd support: 109.37, June 25-26 lows

AUD/USD — closes below 0.7204  will keep bearish bias intact
* 3rd resistance: 0.7318, July 20 low
* 2nd resistance: 0.7311, July 2 low
* 1st resistance: 0.7300, session high
* Spot: 0.7280
* 1st support: 0.7251, session low
* 2nd support: 0.7192, pivot s3
* 3rd support: 0.7107, last Fibonacci retracement of gains since
January 2016


 Trader Velizar Mitov


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