Short Term Technical Analysis for Majors (08:50 GMT)

EUR/USD

Consolidation under 1.4027, 07 Oct and 1.4011, today’s high, is forming a bullish continuation with break higher to expose 1.4100 zone first, ahead of possible extension to 1.4195, 25 Jan high. Downside, 1.3900 offers initial support, while loss of 1.3832, 08 Oct low may delay bulls.

Res: 1.4011, 1.4027, 1.4100, 1.4195
Sup: 1.3900, 1.3856, 1.3832, 1.3761

http://mediaserver.fxstreet.com/Repo...1011085039.gif



GBP/USD

Extends a month-long uptrend to reach fresh high of 1.6016, ahead of consolidation. While 1.5845/20, 07 Oct low/trendline support holds, focus remains for retest of 1.6016, break of which would open 1.6070, 03 Feb high, next. Break below 1.5820, however, delays.

Res: 1.5997, 1.6016, 1.6070, 1.6100
Sup: 1.5898, 1.5858, 1.5845, 1.5820

http://mediaserver.fxstreet.com/Repo...1011085018.gif



USD/JPY

Broke below some significant levels to confirm negative structure. The latest weakness has reached fresh yearly low of 81.37, posted today. Correction is under way, with 82.37/55 expected to hold for continuation of downtrend, while break above the latter delays and allows for stronger correction.

Res: 82.37, 82.55, 82.71, 83.02
Sup: 81.76, 81.37, 81.00, 80.00

http://mediaserver.fxstreet.com/Repo...1011084957.gif



USD/CHF

Bounce off 0.9553, fresh all-time low, reached 0.9699 so far, with potential break higher to signal a pause in the latest downtrend and spark stronger correction towards 0.9737/85, possibly 0.9841/98. Loss of 0.9553, however, resumes the downtrend.

Res: 0.9646, 0.9699, 0.9706, 0.9737
Sup: 0.9593, 0.9581, 0.9553, 0.9500

http://mediaserver.fxstreet.com/Repo...1011084926.gif