USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 0.8518; (P) 0.8563; (R1) 0.8626; More… Intraday bias in USD/CHF remains on the upside at this point. Rebound from 0.8374 is in progress for 38.2% retracement of 0.9223 to 0.8374 at 0.8698. Sustained break there will argue that fall from 0.9223 has completed after defending 0.8332 low. Next target will be 61.8% […]

Daily Pivots: (S1) 0.8498; (P) 0.8518; (R1) 0.8528; More…. Intraday bias in USD/CHF remains neutral and outlook is unchanged. Consolidation from 0.8332 is extending and stronger recovery cannot be ruled out. But outlook will stay bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8332 will resume larger fall from […]

EUR/GBP’s late breach of 0.8294 suggests that larger down trend is resuming. Initial bias stays on the downside this week for 61.8% projection of 0.8624 to 0.8294 from 0.8446 at 0.8242. Break there will target 0.8201 key support. On the upside, above 0.8339 minor resistance will turn intraday bias neutral first. But outlook will stay […]