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

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance