Classic paintings photoshopped

EUR: Attempt small longs at 1.2270
EUR

Comment: Hovering at the 26-day moving average with momentum zero. Expect more consolidation around here this morning and maybe all day. A weekly close above 1.2300 would also help add some upside pressure.

Strategy: Attempt small longs at 1.2270, adding to 1.2200; stop well below 1.2100. First target 1.2355.


EUR/JPY

Comment: Hovering slightly precariously between the 9 and 26-day moving averages at 113.41, not far off the late May/June highs at 114.40. Note that the lagging Span hits a cluster of tightly packed candles from Monday next week. This might keep the cross below the 114.40 area for another few weeks. Very mixed picture all round.

Strategy: Possibly attempt tiny longs at 112.00; stop below 110.80. First target 112.75.


GBP

Comment: Hovering between the moving averages and a descending, broadening Ichimoku ‘cloud’. Expect more of the same today and maybe tomorrow too though note that a weekly close above 1.4800 might add a little upside pressure.

Strategy: Attempt small longs at 1.4700; stop below 1.4500. First target 1.4800, maybe 1.4900.


JPY

Comment: Incredibly a ‘doji’ yesterday exactly on a fine line of a ‘cloud’ and the pivotal 91.47 level and the centre of the trading range since mid-May. Expect more of the same today, the yen more likely to take its cue from what’s happening elsewhere rather than leading the pack.

Strategy: Possibly attempt small shorts at 91.30, adding to 91.80; stop above 92.15. First target 91.00, maybe 90.55.