Sample Category Title

Pivot (invalidation): 0.7005

Our preference Long positions above 0.7005 with targets at 0.7050 & 0.7080 in extension.

Alternative scenario Below 0.7005 look for further downside with 0.6985 & 0.6970 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 1.3500

Our preference Short positions below 1.3500 with targets at 1.3460 & 1.3430 in extension.

Alternative scenario Above 1.3500 look for further upside with 1.3520 & 1.3540 as targets.

Comment A break below 1.3460 would trigger a drop towards 1.3430.

Daily Pivots: (S1) 143.57; (P) 144.23; (R1) 144.69; More...

Focus is now on 143.72 key support in GBP/JPY. Decisive break there will indicate near term reversal, after rejection by 149.48 key resistance. In that case, intraday bias will be turned to the downside for 141.00 support first. Meanwhile, rebound from current level will retain bullishness. Decisive break of 149.48 key resistance will carry larger bullish in implications and target 156.58 resistance next.

In the bigger picture, focus is staying on 149.98 key resistance. Decisive break there should confirm that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Pivot (invalidation): 1.0190

Our preference Long positions above 1.0190 with targets at 1.0210 & 1.0230 in extension.

Alternative scenario Below 1.0190 look for further downside with 1.0170 & 1.0150 as targets.

Comment The RSI lacks downward momentum.

Daily Pivots: (S1) 123.95; (P) 124.59; (R1) 124.98; More....

Intraday bias in EUR/JPY remains on the downside for 123.65 support and below. For now, price actions from 127.50 are seen as a corrective pattern only. Hence, strong support could be seen at around 123.39 support to bring rebound. On the upside, above 124.80 minor resistance will turn intraday bias neutral first.

In the bigger picture, there is no confirmation of completion of the down trend from 137.49 (2018 high) yet. In case of an extension, break of 118.62 will target 109.03/114.84 long term support zone. However, break of 127.50 will solidify the case of medium term bullish reversal. Further decisive break medium term channel resistance will affirm reversal and target 133.12 key resistance and above.

Pivot (invalidation): 111.45

Our preference Long positions above 111.45 with targets at 111.90 & 112.05 in extension.

Alternative scenario Below 111.45 look for further downside with 111.25 & 111.05 as targets.

Comment A support base at 111.45 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 1.2915

Our preference Short positions below 1.2915 with targets at 1.2885 & 1.2865 in extension.

Alternative scenario Above 1.2915 look for further upside with 1.2945 & 1.2960 as targets.

Comment A break below 1.2885 would trigger a drop towards 1.2865.

Daily Pivots: (S1) 0.8620; (P) 0.8638; (R1) 0.8650; More...

EUR/GBP is still staying in consolidation from 0.8474 and intraday bias remains neutral first. Further rise cannot be ruled out but upside should be limited by 0.8722 resistance to bring down trend resumption. On the downside, firm break of 0.8474 will resume larger down trend for 0.8416 long term projection next. On the upside, though, sustained break of 0.8722 will suggest near term reversal and bring stronger rise back to 0.8840 resistance and above.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current fall from 0.9305 (2017 high) is a falling leg inside the pattern. Such decline could extend to 100% projection of 0.9305 to 0.8620 from 0.9101 at 0.8416 and possibly below. But for now, we'd expect strong support around 0.8312 support to contain downside and bring rebound.

Pivot (invalidation): 1.1160

Our preference Short positions below 1.1160 with targets at 1.1115 & 1.1090 in extension.

Alternative scenario Above 1.1160 look for further upside with 1.1180 & 1.1205 as targets.

Comment As Long as 1.1160 is resistance, look for choppy price action with a bearish bias.

Daily Pivots: (S1) 1.5843; (P) 1.5888; (R1) 1.5912; More...

Intraday bias in EUR/AUD stays neutral for consolidation below 1.5959 temporary top. As long as 1.5828 minor support holds, further rise is expected. On the upside, above 1.5959 will target 1.6122 resistance first. Decisive break there will confirm completion with corrective fall from 1.6765 at 1.5683. In this case, further rally should be seen back to retest 1.6765 high. On the downside, however, below 1.5828 minor support will turn bias back to the downside for 1.5683 instead.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.