Move above1.3690 (see graph: neckline Double Bottom) has met 2nd target of pattern (1.4215) and approached 61.8% Retracement of drop from year high (1.4254): drop from 14248 retested 1.3690 area.
Support at 1.3784/.3766 (broken daily Short Term Moving Average?/break-up hourly), with next levels at 1.3680/.3656 (daily Long Term Moving Average?/reaction low hourly + daily envelope bottom), where pause favored.
Failure to hold would see next levels at 1.3637 (reaction low hourly + daily modified Alpha Beta trend bottom), ahead of 1.3608 (current reaction low off 1.4248): tough on 1st attempts.
Resistance at 1.3855 (reaction high hourly), with next levels at 1.3867/.3877 (daily envelope top/broken daily Medium Term Moving Average?), ahead of 1.3894 (daily modified Alpha Beta trend top), where pause favored. Failure to cap would see next levels at ahead of 1.3923/.3928 (breakdown hourly/ 50% 1.4248 to 1.3608), ahead of 1.3953 (reaction high hourly) and 1.4003 (61.8%): suspect tough on 1st attempts.
USD/JPY: (78.07) New historic low triggered massive BOJ intervention
EUR/GBP: (.8623) Drop from .8831 reapproached .8532/ .8531 area
EUR/JPY: (107.87 Rebound off 100.77 has sent the pair testing
Source http://www.fxstreet.com/technical/analysis-reports/forex-technical-analysis/2011-11-04.html