USD/JPY

The majority of the month has not proven successful for the USD. The JPY has taken major gains on the currency prompting correction as USD gains strength in bullish sentiment. Expectations for today are high for a correction. Traders are advised to look for CALL options.

“USD looks to make a rally against the JPY.”

Support 101.80 102.13 102.38
Resistance 102.56 102.75 102.98
 

EUR/USD

A more stable currency as of late, the EUR has over taken the USD during April.  Now reaching a monthly record, the EUR is set to drop, both because of lack of buying support, and also in fact due to growing cheapness of the dollar pulling traders to sell. Expectations are very bearish for today. Traders are advised to trade PUT options.

“EUR begins to falter.”

Support 1.3697 1.3737 1.3758
Resistance 1.3783 1.3806 1.3840
 

USD/TRY

Growing in strength since March, the TRY has made significant gains on the USD. A correction is expected but price action stability will remain and no major movements are expected today. Traders are advised to keep an eye on this asset for 30 minute trades on the trends.

”TRY maintains gain on USD.”

Support 2.0920 2.1105 2.1210
Resistance 2.1267 2.1443 2.1523