ABN AMRO Private Bank

EUR/USD: "The market is consolidating but retains its bullish bias. It still looks as if buyers will send levels above the recent $1.3639 top, which will make the $1.3680all-time-high look vulnerable. A break above it should extend the uptrend to a projected, possible top at $1.3715. There is no sign of any top taking shape so only a break below the last low at $1.3586 implies that the uptrend has entered a correction phase, which will open the way down to $1.3550 and potentially $1.3495."

USD/JPY: "Prices are pushing higher again after the successful defense of the 122.10 yen support. The next challenge for the bulls lies at a downward sloping resistance line at 123.15 and a tested resistance at 123.52.Taking that out will likely lead to the elimination of the massive 124.50 barrier. That, in turn, will open the way for afurther rally towards 125.90. New support has been established at 122.55 but that main area remains the 122.10 level."

GBP/USD: "The up trend remains in full swing but could start correcting lower as prices approach a projected possible top at $2.0225. Slipping below the last low at $2.0134 is the first sign that the uptrend is entering a correction phase which should reach at least $2.0072. On the upside, breaking above $2.0225 targets up to the next projected possible top at $2.0675."

EUR/JPY: "The uptrend is taking off again and prices remain on course to a projected possible top at 173.10 yen. Only a break below the last low at 166.15 implies that the uptrend has entered a correction phase and could see levels drift down towards 164.25."