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Daily Pivots: (S1) 157.69; (P) 158.04; (R1) 158.51; More… Intraday bias in USD/JPY remains neutral for the moment, and further rally is in favor with 156.01 support intact. On the upside, firm break of 61.8% projection of 139.57 to 156.74 from 148.64 at 159.25 will extend the rally from 139.57 to retest 161.94 high. However, […]

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07/01/2024

GBP/USD Weekly Outlook

GBP/USD rebound strongly after drawing support from 1.2611 last week. Initial bias is now on the upside this week for retesting 1.2826 first. Decisive break there will resume whole rally from 1.2036. Nevertheless, another fall and break of 1.2611 will bring deeper correction to 1.2499 support instead. In the bigger picture, price actions from 1.3141 […]
16/03/2024

USD/JPY Weekly Outlook

USD/JPY’s strong rebound last week suggests that corrective fall from 150.87 has completed at 146.47, after drawing support from 38.2% retracement of 140.25 to 150.87 at 146.81. Initial bias remains on the upside this week for retesting 150.87/89 key resistance zone. Nevertheless, on the downside, below 148.02 minor support will turn intraday bias neutral first. […]
02/01/2024

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2698; (P) 1.2735; (R1) 1.2770; More… While GBP/USD’s pull back from 1.2826 extends lower today, it’s staying above 1.2611 support so far. Intraday bias remains neutral first. On the upside, break of 1.2826 will resume whole rally from 1.2036. However, break of 1.2611 will indicate short term topping, and turn bias back […]