Technical Outlook for Majors 02/12/2015

[WindsorBrokers]

ERUSD
The Euro slid below 1.06 handle, after weaker-than-expected EU inflation data, signaled that bounce from near-term base, established at 1.0556, could be short-lived. Quick acceleration lower, which followed repeated rejection at 1.0630, daily 10 SMA, surged through hourly Ichimoku cloud, to find footstep at 1.0580.
Structure of near-term studies is weak and sees increased risk of return 1.0556 base. In addition, firm bearish setup of daily technicals, favors limited recovery attempts, ahead of fresh push lower, which will be looking for key med-term support at 1.0461, 12 Mar yearly low.
Meantime, prolonged consolidation could be anticipated while 1.0556 base holds, with 10SMA expected to cap.
Only rallies above falling daily 20SMA, currently at 1.0682, would delay immediate bears.
Res: 1.0613; 1.0635; 1.0682; 1.0737
Sup: 1.0580; 1.0556; 1.0519; 1.0461


GBPUSD
Cable accelerated lower, on the third wave of pullback from 1.5125 and approaches psychological 1.50 support. Two-day recovery rally on failure t 1.50 support, was short-lived and stalled at 1.5125, Fibonacci 38.2% of 1.5334/1.4992 descend / falling daily 10SMA. This kept intact more significant barrier at 1.5188, weekly Ichimoku cloud base, which marks the breakpoint.
Fresh weakness brought near-term bears back to play, while overall picture remains negative and looks for renewed attempt through pivot. Firm break here is expected to open another strong support at 1.4900, weekly bear-channel support.
Better-than-expected US ADP data additionally boosted the greenback and support scenario of final surge through 1.50 support.
Res: 1.5030; 1.5056; 1.5085; 1.5125
Sup: 1.4992; 1.4941; 1.4900; 1.4860


USDJPY</p>The pair regains traction and rises above 123 handle, after yesterday