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Daily Pivots: (S1) 158.06; (P) 158.66; (R1) 159.73; More...

Intraday bias in GBP/JPY remains neutral for the moment as range trading continues. . On the downside, break of 155.33 will resume the whole decline from 172.11 to 153.70 fibonacci level. On the upside, above 161.51 will bring stronger rise through 55 day EMA (now at 162.32).

In the bigger picture, as long as 163.02 support turned resistance holds, decline from 172.11 medium term top is expected to continue to 38.2% retracement of 123.94 to 172.11 at 153.70. Sustained break there will raise the change of trend reversal and target 61.8% retracement at 142.34. Nevertheless, break of 163.02 support turned resistance will argue that the decline has completed, and retain medium term bullishness.

Daily Pivots: (S1) 138.20; (P) 138.82; (R1) 139.71; More....

EUR/JPY recovered ahead ahead of 137.37 support and intraday bias is turned neutral. On the downside, firm break of 137.37 will resume whole decline from 148.38 to 135.40 fibonacci level next. However, firm break of 142.84 will argue that the correction from 148.38 has completed, and bring stronger rise back to 146.71 resistance.

In the bigger picture, as long as 55 week EMA (now at 138.64) holds, larger up trend from 114.42 (2020 low) is still in progress for 149.76 long term resistance. However, firm break of 55 week EMA will bring deeper fall to 38.2% retracement of 114.42 to 148.38 at 135.40. Sustained break there will raise the chance of trend reversal, and target 61.8% retracement at 127.39.

Daily Pivots: (S1) 0.8713; (P) 0.8750; (R1) 0.8778; More...

EUR/GBP's fall from 0.8996 is still in progress and intraday bias remains on the downside for 61.8% retracement of 0.8545 to 0.8896 at 0.8679. Sustained break there will pave the way back to retest 0.8545 low. On the upside, above 0.8802 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8896 resistance holds.

In the bigger picture, current development argues that rebound from 0.8545 is merely a correction to fall from 0.9267. Sustained trading below 55 day EMA (now at 0.8748) will affirm this bearish case and target 0.8545 and below. Nevertheless, strong rebound from current level will retain near term bullishness for another rise through 0.8896 later.

Daily Pivots: (S1) 1.5559; (P) 1.5655; (R1) 1.5770; More...

Intraday bias in EUR/AUD stays mildly on the upside at this point. Correction from 1.5976 should have completed at 1.5376. Further rally would be seen for retesting 1.5976 first. Firm break there will resume larger rise from 1.4281. For now, risk will stay on the upside as long as 1.5376 support holds, in case of retreat.

In the bigger picture, it's still early to confirm if rise from 1.4281 represents bullish trend reversal. But as long as 1.5271 support holds, such rally is in favor to continue. Break of 1.5976 will target 1.6434 key resistance next. On the other hand, firm break of 1.5271 will retain medium term bearishness instead.

Daily Pivots: (S1) 0.9891; (P) 0.9911; (R1) 0.9942; More....

EUR/CHF recovered after hitting 55 day EMA and intraday bias is turned neutral first. Another fall is in favor as long as 0.9962 minor resistance holds. Below 0.9873 will target 38.2% retracement of 0.9407 to 1.0095 at 0.9832. On the upside, above 0.9962 minor resistance will turn bias back to the upside for retesting 1.0095 high.

In the bigger picture, break of 38.2% retracement of 1.1149 to 0.9407 at 1.0072 and 55 week EMA (now at 1.0041) is taken as an initial sign of long term bullish reversal. Further rally is expected as long as 55 days EMA (now at 0.9874) holds. Next target is 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). Reactions from there should reveal long term momentum.

Daily Pivots: (S1) 1.3436; (P) 1.3479; (R1) 1.3510; More....

Intraday bias in USD/CAD is turned neutral with current retreat. But risks stay on the upside as long as 1.3320 support holds. Pull back from 1.3704 should have completed. On the upside, above 1.3519 will target a test on 1.3704 first. Firm break there will resume the whole rebound from 1.3224.

In the bigger picture, as long as 1.3222 cluster support (38.2% retracement of 1.2005 to 1.3976 at 1.3223) holds, larger up trend from 1.2005 (2021 low) is still expected to resume through 1.3976 high at a later stage. However, firm break of 1.3222/3 will indicate that the trend might have reversed. Deeper fall would be seen to next cluster support at 1.2726 (61.8% retracement at 1.2758).

Daily Pivots: (S1) 0.6872; (P) 0.6910; (R1) 0.6948; More...

Intraday bias in AUD/USD remains neutral for consolidations below 0.7062. Overall outlook stays bullish as long as 0.6721 support holds. On the upside, break of 0.7062 will resume rise from 0.6169 to 61.8% projection of 0.6169 to 0.6892 from 0.6721 at 0.7168 next. However, firm break of 0.6721 will indicate short term topping, and turn bias back to the downside.

In the bigger picture, corrective decline from 0.8006 (2021 high) should have completed with three waves down to 0.6169 (2022 low). Further rally should be seen to 61.8% retracement of 0.8006 to 0.6169 at 0.7304. Sustained break there will pave the way to retest 0.8006. This will now remain the favored case as long as 0.6721 support holds.

Daily Pivots: (S1) 1.0796; (P) 1.0818; (R1) 1.0853; More...

Intraday bias in EUR/USD remains neutral for consolidation below 1.0886. Overall outlook will remain bullish as long as 1.0482 support holds. Break of 1.0886 will resume rally from 0.9534 to 61.8% projection of 0.9630 to 1.0733 from 1.0482 at 1.1164 next.

In the bigger picture, current development suggests that the rally from 0.9534 low (2022 low) is a medium term up trend rather than a correction. Further rally is in favor to 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273 next. This will remain the favored case as long as 1.0482 support holds.

Daily Pivots: (S1) 1.2337; (P) 1.2368; (R1) 1.2422; More...

Intraday bias in GBP/USD is turned neutral with loss of upside momentum ahead of 1.2445 resistance. On the upside, decisive break of 1.2445 will confirm resumption of whole rise from 1.0351. Next target will be 1.2759 fibonacci level. On the downside, break of 1.2252 minor support will turn bias to the downside, and extend the corrective pattern from 1.2445 with another falling leg.

In the bigger picture, rise from 1.0351 medium term bottom is at least correcting whole down trend from 1.4248 (2021 high). Further rise is expected as long as 1.1644 resistance turned support holds. Next target is 61.8% retracement of 1.4248 to 1.0351 at 1.2759. Sustained break there will pave the way back to 1.4248.

Daily Pivots: (S1) 0.9142; (P) 0.9166; (R1) 0.9184; More...

Intraday bias in USD/CHF is turned neutral first with current recovery. But outlook remains bearish as long as 0.9407 resistance holds. Sustained break of 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056 will pave the way to 100% projection at 0.8754, which is close to 0.8756 long term support. Nevertheless, on the upside, break of 0.9407 should confirm short term bottoming and turn bias back to the upside.

In the bigger picture, rise from 0.8756 (2021 low) has completed at 1.0146, well ahead of 1.0342 long term resistance (2016 high). Based on current downside momentum, fall from 1.0146 should be a medium term down trend itself. Next target is a test on 0.8756 low. Strong support should be seen there to bring rebound. Still, further decline will now be expected as long as 0.9407 resistance holds, in any case.