Forexpros.com Daily Analysis - 23/07/2009
Forexpros.com Daily Analysis - July 22, 2009
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EUR/USD
The pair continues to range (so far) within in a 120 pip range over the last couple of days. A breakout will eventually occur, with the bias being higher overall.
Resistance is at 1.4260 with a break to test 1.4280. A push above 1.4300 would confirm a breakout with the target being 1.4400. Intermittent resistance is at 1.4350.
Support is at 1.4200, 1.4180 and 1.4155. A break below this level is less likely than a break higher, but it could still happen. Further support is at 1.4140 and 1.4100.
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USD/JPY
The pair jumped in early trading, and is trying to test the 94.40 level. This is an important intra-day level.
A rise above 94.50 indicates a move to test a former swing high at 94.80. A rise beyond is not highly likely today, but 95.00 is the resistance beyond.
Support is at 93.80, 93.40 and 93.20.
Analysis by: Forexpros.com - Written by Cory Mitchell
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