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Daily Pivots: (S1) 159.36; (P) 160.04; (R1) 160.88; More...

Intraday bias in EUR/JPY stays neutral at this point. Overall outlook is unchanged that consolidation pattern from 154.40 could still extend. On the downside, below 157.96 will target 156.16 support. However, break of 161.48 will turn bias back to the upside for 164.07 resistance.

In the bigger picture, price actions from 175.41 are seen as correction to rally from 114.42 (2020 low). The range of consolidation should have been set between 38.2% retracement of 114.42 to 175.41 at 152.11 and 175.41 high. However, decisive break of 152.11 would argue that deeper correction is underway.

Daily Pivots: (S1) 0.8298; (P) 0.8315; (R1) 0.8331; More...

Further decline is expected in EUR/GBP with 0.8353 minor resistance intact. Corrective rebound from 0.8221 should have completed already. Fall from 0.8472 would target a retest of 0.8221 low. However, firm break of 0.8353 will turn bias back to the upside for stronger rebound.

In the bigger picture, a medium term bottom should be in place at 0.8221, just ahead of 0.8201 key support (2022 low). Sustained trading above 55 W EMA (now at 0.8442) will pave the way to 0.8624 cluster zone (38.2% retracement of 0.9267 to 0.8221 at 0.8621), even just as a correction to the down trend from 0.9267 (2022 high). But still, medium term outlook will be neutral at best as long as 0.8621/4 holds.

Daily Pivots: (S1) 1.6559; (P) 1.6616; (R1) 1.6649; More...

Intraday bias in EUR/AUD remains neutral as consolidations continue below 1.6800. Strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 0.9373; (P) 0.9397; (R1) 0.9419; More....

Intraday bias in EUR/CHF stays neutral for consolidations above 0.9359 temporary low. Risk will stay on the downside as long as 0.9516 resistance holds. Corrective rebound from 0.9204 might have completed at 0.9517 already. Firm break of 0.9336 support will solidify this bearish case and target a retest on 0.9204 low.

In the bigger picture, current development argues that rebound from 0.9204 has completed as a corrective move after failing to sustain above 38.2% retracement of 0.9928 to 0.9204 at 0.9481. Firm break of 0.9204/9 support zone will confirm larger down trend resumption.

Daily Pivots: (S1) 1.4245; (P) 1.4374; (R1) 1.4446; More...

Intraday bias in USD/CAD stays neutral for more consolidations below 1.4791 short term top. Downside should be contained by 1.4260 cluster support (38.2% retracement of 1.3418 to 1.4791 at 1.4267), which is also close to 55 D EMA (now at 1.4267), to bring rebound. Larger up trend is expected to resume through 1.4791 at a later stage. However, firm break of 1.4260 will indicate that deeper correction is underway.

In the bigger picture, the break of 1.4667/89 key resistance zone (2020/2015 highs) confirms long term uptrend resumption. Next target is 100% projection of 1.2401 to 1.3976 from 1.3418 at 1.4993. Medium term outlook will remain bullish as long as 1.3976 resistance turned holds (2022 high), even in case of deep pullback.

Daily Pivots: (S1) 0.6197; (P) 0.6230; (R1) 0.6288; More...

Intraday bias in AUD/USD stays neutral as consolidation continues above 0.6087. Further decline is expected as long as 0.6329 resistance holds. Break of 0.6087 will resume larger decline from 0.6941. However, firm break of 0.6329 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 0.6941 (2024 high) is seen as part of the down trend from 0.8006 (2021 high). Next medium term target is 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.6511) holds.

Daily Pivots: (S1) 1.0305; (P) 1.0346; (R1) 1.0421; More...

Intraday bias in EUR/USD remains neutral as consolidations from 1.0176 is extending. Outlook will stay bearish as long as 1.0531 resistance holds. On the downside, decisive break of 1.0176 will resume whole fall from 1.1213. Next target will be 61.8% projection of 1.1213 to 1.0176 from 1.0531 at 0.9890.

In the bigger picture, immediate focus is back on 61.8 retracement of 0.9534 (2022 low) to 1.1274 (2024 high) at 1.0199. Sustained break there will solidify the case of medium term bearish trend reversal, and pave the way back to 0.9534. For now, risk will stay on the downside as long as 1.0531 resistance holds, in case of rebound.

Daily Pivots: (S1) 1.2410; (P) 1.2451; (R1) 1.2524; More...

Intraday bias in GBP/USD stays neutral as this point. Corrective rebound from 1.2099 could extend further with another rise. But strong resistance should be seen from 38.2% retracement of 1.3433 to 1.2099 at 1.2609 to limit upside. Below 1.2248 will bring retest of 1.2099 low first. Firm break there will resume whole decline from 1.3433.

In the bigger picture, rise from 1.0351 (2022 low) should have already completed at 1.3433 (2024 high), and the trend has reversed. Further fall is now expected as long as 1.2810 resistance holds. Deeper decline should be seen to 61.8% retracement of 1.0351 to 1.3433 at 1.1528, even as a corrective move. However, firm break of 1.2810 will dampen this bearish view and bring retest of 1.3433 high instead.

Daily Pivots: (S1) 0.9015; (P) 0.9082; (R1) 0.9117; More…

Intraday bias in USD/CHF remains neutral as consolidation from 0.9200 is still extending. Outlook will stay bullish as long as 0.8956/64 support holds. Firm break of 0.9200/9223 will resume the whole rally from 0.8374 and carry larger bullish implication.

In the bigger picture, decisive break of 0.9223 resistance will argue that whole down trend from 1.0342 (2017 high) has completed with three waves down to 0.8332 (2023 low). Outlook will be turned bullish for 1.0146 resistance next. Nevertheless, rejection by 0.9223 will retain medium term bearishness for another decline through 0.8332 at a later stage.

Daily Pivots: (S1) 153.84; (P) 154.68; (R1) 155.18; More...

USD/JPY's fall from 158.86 short term top resumed by breaking through 153.70 and intraday bias is back on the downside. Deeper decline should be seen to 38.2% retracement of 139.57 to 158.86 at 151.49. Strong support could be seen from there to bring rebound. But further fall will remain in favor as long as 155.51 resistance holds, in case of recovery. Sustained break of 151.49 will raise the chance of bearish reversal.

In the bigger picture, price actions from 161.94 are seen as a corrective pattern to rise from 102.58 (2021 low). The range of medium term consolidation should be set between 38.2% retracement of 102.58 to 161.94 at 139.26 and 161.94. Nevertheless, sustained break of 139.26 would open up deeper medium term decline to 61.8% retracement at 125.25.