USD/JPY Mid-Day Outlook

Daily Pivots: (S1) 0.8530; (P) 0.8596; (R1) 0.8683; More… Intraday bias in USD/CHF remains neutral and further decline is expected with 0.8711 resistance intact. On the downside, below 0.8500 will bring retest of 0.8431 first. Break there will resume the decline from 0.9223 to retest 0.8332 low. In the bigger picture, price actions from 0.8332 […]

Daily Pivots: (S1) 1.2605; (P) 1.2704; (R1) 1.2757; More… GBP/USD’s steep decline and break of 1.2666 support indicates resumption of fall from 1.2892. Intraday bias is back on the downside for 1.2517 structural support next. Decisive break there will indicate larger bearish reversal. For now, risk will remain on the downside as long as 1.2802 […]

Daily Pivots: (S1) 1.0713; (P) 1.0737; (R1) 1.0765; More…. No change in EUR/USD’s outlook and intraday bias remains neutral. More consolidations could be seen but further fall is expected as long as 55 4H EMA (now at 1.0760) holds. Fall from 1.0915 is seen as another leg in the larger corrective pattern. Below 1.0677 will […]