Comments on technical developments in forex market

Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
FXCM
EURO/DOLLAR: "EUR/ USD is slowly trading lower and is expected to reach the July 13 low of $1.4035 as long as price trades below $1.4260. A breakout above $1.4260 shifts the control from sellers to buyers and a move to $1.4350 is expected in this case."
STERLING/DOLLAR: "Sterling has been supported by $1.6090 during the last 24 hours and as long as price trades above $1.6090 the short term trend remains bullish. Given the bullish trend we need to assume that price will reach $1.6263 which is the June 22 high. A breakout below 1.6090 will cause the bullish trend to fail and a move to 1.60 is expected in this scenario."
DOLLAR/YEN: "USD/JPY is trading between 78.90 yen and 79.30 and price is lacking a strong trend. However a breakout above 79.30 will lead to a move to 79.75 as the trend will in this case turn bullish. A breakout below 78.90 opens up for a further deprecation of price and a move to 78.50 is expected in this case."
EURO/YEN: "Euro gains are being limited by the resistance in height of 113 yen and as long as price trades below this level a move to 111 is expected. However a breakout above 113 will lead to a move to 114 as the short trend turns bullish."
COMMERZBANK
EURO/DOLLAR: "EUR/ USD encountered resistance around the breached 2011 uptrend line at $1.4247 and the 38.2% Fibonacci retracement of the May-to-July decline at $1.4259 on Thursday and is thus expected to slide back towards the $1.4073 June low and then the 200-day moving average at $1.3911."
DOLLAR/YEN: "USD/JPY once more found support in the 78.50 yen zone before stabilising on Thursday. This, Thursday's 78.45 intraday low and the 78.6% Fibonacci retracement of the March-to-April advance at 78.23 should underpin the currency pair again today, if retested that is. This is the last defence for the 76.25 March low."
DOLLAR/SWISS FRANC: "USD/CHF's slide has taken it so far to 0.8080 franc, not far above the 0.8040/00 support area. This is where a vertical Point & Figure target, the 100% Fibonacci extension of the January-to-March decline, projected lower from the May peak, and the major .8000 mark come together. As such it should stem the last few days' sharp decline."
EURO/STERLING: "EUR/ GBP tried to stabilise Wednesday and, in doing so, hit the 55-day moving average at 88.38 pence. It, the 88.45 mid-May high and the 88.52 March peak may again cap on Friday. If not, the 38.2% Fibonacci retracement or the 50% retracement of the July decline at 88.77 or 89.16 should do so."
STERLING/DOLLAR: "GBP/USD's recovery off Tuesday's $1.5784 low stalled fractionally below the $1.6211/62 resistance zone where the 38.2% Fibonacci retracement of the December-to-April advance, the 55-day moving average, the June 22nd high and the channel resistance line all come together. Provided that it continues to cap, a slip back towards the 50% retracement at $1.6046 and the $1.6000 minor psychological level looks likely."