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GBP/JPY edged lower to 188.07 last week as fall from 199.71 extended, but recovered since then. Initial bias remains neutral this week first. While further recovery cannot be ruled out, outlook will stay bearish as long as 55 D EMA (now at 194.04) holds. On the downside, below 190.33 minor support will bring retest of […]

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24/06/2024

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0669; (P) 1.0695; (R1) 1.0719; More…. Intraday bias in EUR/USD remains neutral first and consolidation from 1.0667 could extend. But further fall is expected with 1.0760 resistance intact. Decline from 1.0915 is seen as another leg in the larger corrective pattern. Break of 1.0667 will target 1.0601 and below. In the bigger […]
11/01/2024

GBP/JPY Daily Outlook

Intraday bias in GBP/JPY remains on the upside at this point. Rebound from 178.32 is in progress for retesting 188.63 high. On the downside, break of 182.73 support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor in case of retreat. In the bigger picture, price actions from 188.63 […]
16/11/2024

EUR/JPY Weekly Outlook

EUR/JPY’s fall from 166.67 continued last week after interim recovery. The break of 55 D EMA (now at 163.41) argues that corrective rebound from 154.40 has completed with three waves up to 166.67. That came after rejection by 61.8% retracement of 175.41 to 154.40 at 167.38. Initial bias is now on the downside this week […]