GBP/USD

Starting with the breakout at 1.8740 of 01/14,
the cable is trading in the range of 1.8523 thru 1.8623 support
and 1.8750 thru 1.8935 resistance.
Strong resistance is seen at 1.8935 and a break here will push the cable out of
its current range area where it
will face the second resistance key at 1.9084.
Important support level was formed in the 1.8810/20 area. A breach here will
drag the cable into the deeps of
1.86 area where it will probably face the second major support at 1.8621.
We look forward for a resistance breakout and probably go long for a target
around 1.908.

EUR/JPY

The pair is still trading in range. Major
resistance is seen at 135.43. A breach here will encourage the EUR
for a rally towards the second important resistance key seen at 136.30.
Support was found in the 133.60/70 area (double bottom and also the range
support of 133 thru 133.8) followed
by 132.96. We believe that the pair will continue its wave movements nicely on
the same range for a few more
days, therefore, keep an eye on every resistance and support tests because there
could be great entry opportunities.