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Daily Pivots: (S1) 158.65; (P) 159.30; (R1) 160.11; More...

Range trading continues in GBP/JPY and intraday bias remains neutral. On the downside, break of 155.33 low will resume the fall form 172.11 to 153.70 fibonacci level next. On the upside, sustained trading above 55 day EMA (now at 161.42) will turn bias to the upside, for stronger rise back to 169.26/172.11 resistance zone.

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) 141.87; (P) 142.37; (R1) 142.75; More....

Intraday bias in EUR/JPY remains neutral for the moment. On the upside, decisive break of 142.84 will argue that the correction from 148.38 has completed at 137.37 already. Further rise would be seen to 146.71 resistance next. On the downside, firm break of 155.33 will resume the whole decline from 148.38 to 135.40 fibonacci level.

In the bigger picture, as long as 55 week EMA (now at 138.82) 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) 0.8900; (P) 0.8937; (R1) 0.8960; More...

Intraday bias in EUR/GBP is turned neutral with current retreat. But outlook stays bullish as long as 0.8270 support holds. On the upside, break of 0.8977 will resume whole rise from 0.8545 to 100% projection of 61.8% projection of 0.8545 to 0.8896 from 0.8720 at 0.9071.

In the bigger picture, the notable support from 55 day EMA (now at 0.8780) retains near term bullishness. Break of 0.8896 should target 0.9267 (2022 high) and possibly above, to resume whole up trend from 0.8201 (2022 low). However, break of 0.8270 support and sustained trading below 55 day EMA will set the stage for 0.8545 and below.

Daily Pivots: (S1) 1.5530; (P) 1.5591; (R1) 1.5643; More...

EUR/AUD retreated deeply after hitting 1.5650 and intraday bias is turned neutral again. Another rise is mildly in favor. Above 1.5650 will target 1.5749 resistance. Decisive break there will confirm that correction from 1.5976 has completed with three waves down, after drawing support from 1.5271. Further rally would be seen back to retest 1.5976 high. On the downside, break of 4 hour 55 EMA (now 1.5441) will turn bias back to the downside for retesting 1.5254 instead.

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) 0.9926; (P) 0.9971; (R1) 1.0002; More....

EUR/CHF's consolidation from 1.0095 is still extending and intraday bias stays neutral. Deeper fall to 0.9873 cannot be ruled out. But downside should be contained by 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to bring rebound. For now, risk will stay on the downside as long as 1.0067 resistance holds, in case of recovery.

In the bigger picture, the initial rejection by 55 week EMA (now at 1.0039) mixed up the outlook. On the upside, sustained trading above 55 week EMA will raise the chance of bullish trend reversal. Rise from 0.9407 should then target 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.

Daily Pivots: (S1) 1.0692; (P) 1.0745; (R1) 1.0781 More...

Intraday bias in EUR/USD stays on the downside at this point. Fall from 1.1032 short term top is correcting whole rise from 0.9534, and should target 1.0482 support, which is close to 38.2% retracement of 0.9534 to 1.1032 at 1.0463. For now, risk will stay on the downside as long as 1.1032 resistance holds, in case of recovery.

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 rise 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) 1.1993; (P) 1.2035; (R1) 1.2064; More...

Outlook in GBP/USD remains unchanged and intraday bias stays on the downside. Fall from 1.2446 is seen as the third leg of the corrective pattern from 1.2445. Deeper decline would be seen to 1.1840 support and possibly below. But downside should be contained by 38.2% retracement of 1.0351 to 1.2445 at 1.1645 to bring rebound. On the upside, above 1.2181 minor resistance will turn intraday bias neutral first. But risk will stay mildly on the downside as long as 1.2445/6 holds, in case of recovery.

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) 0.9243; (P) 0.9267; (R1) 0.9306; More...

Intraday bias in USD/CHF remains neutral with focus on 0.9287 resistance. Firm break there will confirm short term bottoming at 0.9058, and bring stronger rise to 0.9407 resistance. On the downside, however, sustained break of 0.9058 will resume larger decline from 1.0146 instead.

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.

Daily Pivots: (S1) 131.79; (P) 132.35; (R1) 133.18; More...

Intraday bias in USD/JPY remains on the upside for the moment. Current rise from 127.20 short term bottom is in progress. Firm break of 55 day EMA (now at 133.26) will target 38.2% retracement of 151.93 to 127.20 at 136.64, even just as a correction to the decline from 151.93. For now, risk will stay mildly on the upside as long as 127.20 support holds, in case of retreat.

In the bigger picture, prior of 55 week EMA (now at 131.39) raises the chance of medium term bearish reversal, but that's not confirmed yet. Strong rebound from current level, followed by sustained break of 38.2% retracement of 151.93 to 127.20 at 136.64 will argue that price actions from 151.93 is merely a corrective pattern. However, rejection by 136.64 will solidify medium term bearishness for 61.8% retracement of 102.58 to 151.93 at 121.43 and 38.2% retracement of 75.56 to 151.93 at 122.75.

Daily Pivots: (S1) 1.3404; (P) 1.3440; (R1) 1.3483; More....

No change in USD/CAD's outlook and intraday bias stays neutral. While the choppy fall from 1.3704 might still extend lower, strong support is expected to 1.3224 key support to bring rebound. On the upside, above 1.3519 minor resistance will confirm short term bottoming, and turn intraday bias back to the upside for retesting 1.3704 resistance. However, decisive break of 1.3224 would carry larger bearish implication.

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).