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Daily Pivots: (S1) 198.82; (P) 199.45; (R1) 200.24; More...

Intraday bias in GBP/JPY remain son the upside with focus on 199.96 resistance. Firm break there will resume the rally from 184.35, and that from 180.00. Next target is 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 198.16 minor support will turn intraday bias neutral again first. But outlook will stay bullish as long as 195.01 support holds, in case of retreat.

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) 171.88; (P) 172.37; (R1) 173.08; More...

EUR/JPY's extended rebound indicates that corrective pullback from 173.87 has completed at 169.69 already. Intraday bias is back on the upside for retesting 173.87. Firm break there will resume larger rally from 154.77 to retest 175.41 high. On the downside, break of 171.53 will extend the corrective pattern with another falling leg towards 38.2% retracement of 161.06 to 173.87 at 168.97 before completion.

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 169.27) will delay this bullish case.

Daily Pivots: (S1) 0.8625; (P) 0.8640; (R1) 0.8661; More...

EUR/GBP is still extending consolidation from 0.8752 short term top and intraday bias stays neutral. Downside should be contained by 38.2% retracement of 0.8354 to 0.8752 at 0.8600. On the upside, firm break of 0.8752 will resume the rise from 0.8354 towards 0.8867 fibonacci level. However, sustained break of 0.8600 will indicate near term reversal and target 61.8% retracement at 0.8506.

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) 1.7819; (P) 1.7870; (R1) 1.7930; More...

No change in EUR/AUD's outlook as sideway trading continues. Intraday bias stays neutral at this point. 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) 0.9397; (P) 0.9419; (R1) 0.9436; More....

EUR/CHF retreated again ahead of 0.9445 resistance and intraday bias is turned neutral. On the upside, decisive break of 0.9445 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 0.9384) 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) 1.3749; (P) 1.3778; (R1) 1.3801; More...

Intraday bias in USD/CAD remains neutral at this point. 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) 0.6494; (P) 0.6518; (R1) 0.6553; More...

AUD/USD's rebound from 0.6418 resumed by breaking 0.6540 temporary top and intraday bias is back on the upside. 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) 147.45; (P) 147.98; (R1) 148.39; More...

USD/JPY's rebound lost momentum after hitting 148.51 and intraday bias is turned neutral again. On the downside, below 146.61 will resume the fall from 150.90. Further break of 145.84 support will suggests that whole rebound from 139.87 has completed at 150.90, and turn outlook bearish. On the upside, though, above 148.51 will target a retest on 150.90 instead.

In the bigger picture, price actions from 161.94 (2024 high) are seen as a corrective pattern to rise from 102.58 (2021 low). Decisive break of 61.8% retracement of 158.86 to 139.87 at 151.22 will argue that it has already completed with three waves at 139.87. Larger up trend might then be ready to resume through 161.94 high. In case the corrective pattern extends with another fall, strong support is expected from 38.2% retracement of 102.58 to 161.94 at 139.26 to bring rebound.

Daily Pivots: (S1) 0.8042; (P) 0.8085; (R1) 0.8107; More….

Intraday bias in USD/CHF stays neutral at this point. 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.

Daily Pivots: (S1) 1.3438; (P) 1.3481; (R1) 1.3543; More...

Intraday bias in GBP/USD remains on the upside as rise from 1.3140 is in progress for 1.3587 resistance. Correction from 1.3787 should have completed with three waves down to 1.3140. Firm break of 1.3587 will bring retest of 1.3787 high. On the downside, below 1.3398 minor support will turn intraday bias neutral and dampen the bullish case.

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.