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Daily Pivots: (S1) 199.59; (P) 199.94; (R1) 200.47; More...

A temporary top is formed at 200.26 and intraday bias in GBP/JPY is turned neutral for consolidations. Near term outlook will stay bullish as long as 195.01 support holds. Above 200.26 will extend the rally from 180.00 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 0.8607; (P) 0.8631; (R1) 0.8643; More...

Immediate focus is now on 38.2% retracement of 0.8354 to 0.8752 at 0.8600 as fall from 0.8742 accelerates. Sustained break there indicate near term bearish reversal and target 61.8% retracement at 0.8506. Strong rebound from current level will maintain bullishness for another rise through 0.8752 at a later stage.

In the bigger picture, the structure from 0.8221 medium term bottom are not impulsive enough to suggest that it's reversing the down trend from 0.9267 (2022 high). But even if it's a correction, further rise is expected to 61.8% retracement of 0.9267 to 0.8221 at 0.8867. This will remain the favored case as long as 55 W EMA (now at 0.8497) holds.

Daily Pivots: (S1) 172.16; (P) 172.59; (R1) 172.94; More...

EUR/JPY's steep decline and strong break of 171.53 support suggests that rebound from 169.69 has completed. Corrective pattern from 173.87 is extending with fall from 172.99 as the third leg. Intraday bias is back on the downside for 169.69. Strong support is expected from 38.2% retracement of 161.06 to 173.87 at 168.97 to complete the pattern. On the upside, above 172.99 will bring retest of 173.87.

In the bigger picture, considering current strong momentum as seen in the rally from 154.77, corrective pattern from 175.41 could have already completed. Decisive break of 154.77 will confirm long term up trend resumption. Next target is 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. However, rejection by 175.41, followed by firm break of 55 D EMA (now at 169.64) will delay this bullish case.

Daily Pivots: (S1) 1.7855; (P) 1.7887; (R1) 1.7912; More...

Intraday bias in EUR/AUD remains neutral as sideway trading continues. On the upside, firm break of 1.7972 resistance should confirm that corrective pattern from 1.8094 has completed at 1.7671. Further rise should then be seen through 1.8094, to resume the rebound from 1.7245. Next target is 61.8% projection of 1.7245 to 1.8094 from 1.7671 at 1.8196. On the downside, below 1.7671 will bring deeper fall back to 1.7459 support instead.

In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Such pattern could extend further with another falling leg. But even in that case, downside should be contained by 38.2% retracement of 1.4281 (2022 low) to 1.8554 at 1.6922 to bring rebound. Uptrend from 1.4281 is expected to resume at a later stage.

Daily Pivots: (S1) 0.9413; (P) 0.9421; (R1) 0.9438; More....

Intraday bias in EUR/CHF stays neutral and some more consolidations could be seen below 0.9438 temporary top. On the upside, decisive break of 0.9445 resistance will resume the whole rebound from 0.9218. Next target is 100% projection of 0.9218 to 0.9445 from 0.9265 at 0.9492. However, sustained trading below 55 4H EMA (now at 0.9391) will extend the corrective pattern from 0.9445 with another falling leg.

In the bigger picture, the down trend from 0.9204 (2018 high) might still be in progress considering that EUR/CHF is staying well inside the long term falling channel. However, with bullish convergence condition in W MACD, downside position should be limited in case of another fall. Instead, firm break of 0.9660 resistance will be an important sign of medium term bullish trend reversal.

Daily Pivots: (S1) 1.3518; (P) 1.3551; (R1) 1.3610; More...

Intraday bias in GBP/USD remains on the upside as rise from 1.3150 continues. Firm break of 1.3587 resistance will bring retest of 1.3787 high. On the downside, below 1.3491 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.1673; (P) 1.1701; (R1) 1.1734; More...

Intraday bias in EUR/USD remains up the upside for retesting 11829 high. Firm break there will resume larger up trend to 1.1916 projection level. On the downside, however, break of 1.1589 support will delay the bullish case and extend the corrective pattern from 1.1829 with another falling leg.

In the bigger picture, rise from 0.9534 long term bottom could be correcting the multi-decade downtrend or the start of a long term up trend. In either case, further rise should be seen to 100% projection of 0.9534 to 1.1274 from 1.0176 at 1.1916. This will remain the favored case as long as 1.1604 support holds.

Daily Pivots: (S1) 0.6520; (P) 0.6542; (R1) 0.6567; More...

Intraday bias in AUD/USD stays on the upside as rebound from 0.6418 s in progress. Further rise should be seen back to retest 0.6625 high. Overall, price actions from 0.6624 are seen as a corrective pattern that might still extend. On the downside, break of 0.6481 will suggest that it's in the third leg and bring deeper fall to 0.6418 first.

In the bigger picture, there is no clear sign that down trend from 0.8006 (2021 high) has completed. Rebound from 0.5913 is seen as a corrective move. While stronger rally cannot be ruled out, outlook will remain bearish as long as 38.2% retracement of 0.8006 to 0.5913 at 0.6713 holds. Nevertheless, considering bullish convergence condition in W MACD, even in case of another fall through 0.5913, downside should be contained above 0.5506 (2020 low).

Daily Pivots: (S1) 1.3747; (P) 1.3765; (R1) 1.3777; More...

Intraday bias in USD/CAD stays neutral for the moment. On the downside, break of 1.3720 will reaffirm the case that corrective pattern from 1.3538 has completed at 1.3878. Further decline should then be seen back to retest 1.3538 low. However, break of 1.3809 will bring retest of 1.3878. Further break there will extend the corrective rebound from 1.3538 with another rising leg.

In the bigger picture, price actions from 1.4791 medium term top could either be a correction to rise from 1.2005 (2021 low), or trend reversal. In either case, further decline is expected as long as 1.4014 resistance holds. Next target is 61.8% retracement of 1.2005 (2021 low) to 1.4791 at 1.3069.

Daily Pivots: (S1) 0.8028; (P) 0.8051; (R1) 0.8081; More….

Intraday bias in USD/CHF remains neutral as it's still bounded in range of 0.8020/8170. On the downside, break of 0.8020 will revive that case that the corrective pattern from 0.7871 has completed, and target a retest on 0.7871 low. On the upside, firm break of 0.8710 will resume the corrective from 0.7871. Intraday bias will be back on the upside for 38.2% retracement of 0.9200 to 0.7871 at 0.8379.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.