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Daily Pivots: (S1) 198.21; (P) 198.87; (R1) 199.41; More...

Intraday bias in GBP/JPY remains neutral for consolidations below 200.26. While another fall cannot be ruled out, near term outlook will stay bullish as long as 195.01 support holds. On the upside, firm break of 2002.6 will resume the whole rise from 184.35 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) 171.82; (P) 172.25; (R1) 172.67; More...

Range trading continues in EUR/JPY and intraday bias stays neutral. Overall price actions from 173.87 are seen as a corrective pattern. On the downside, below 170.94 support will bring deeper fall to 169.69 and possibly below. But downside should be contained by 38.2% retracement of 161.06 to 173.87 at 168.97 to bring rebound. 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 170.23) will delay this bullish case.

Daily Pivots: (S1) 0.8649; (P) 0.8660; (R1) 0.8681; More...

Intraday bias in EUR/GBP stays mildly on the upside at this point. Corrective pattern form 0.8752 could have completed with three waves to 0.8595. Further rise should be seen to retest 0.8752 high next. On the downside, below 0.8638 minor support will turn intraday bias neutral again first. Sustained trading below 38.2% retracement of 0.8354 to 0.8752 at 0.8600 will indicate near term bearish 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 0.8508) holds.

Daily Pivots: (S1) 1.8030; (P) 1.8057; (R1) 1.8085; More...

Intraday bias in EUR/AUD remains neutral and more consolidations would be seen below 1.8155. Further rally is expected as long as 1.7942 support holds. Above 1.8155 will target 61.8% projection of 1.7245 to 1.8094 from 1.7671 at 1.8196. Sustained break there will target 100% projection at 1.8520, which is close to 1.8554 high. However, break of 1.7942 will bring deeper fall back to 1.7671 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) 0.9375; (P) 0.9389; (R1) 0.9406; More....

Intraday bias in EUR/CHF remains neutral for the moment. On the upside, firm break of 0.9400 will bring retest of 0.9452. Firm break there will rebound whole rebound from 0.9218. On the downside, however, sustained trading below 55 D EMA (now at 0.9366) will argue that the rebound from 0.9128 has completed as a corrective move. Deeper fall would then be seen to 0.9265 support for confirmation.

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 potential 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) 1.1622; (P) 1.1683; (R1) 1.1782; More...

Intraday bias in EUR/USD remains on the upside as rise from 1.1390 is in progress. The corrective pattern from 1.1829 should have completed with three waves down to 1.1390. Further rally should be seen to retest 1.1829 high first. Firm break there will resume larger up trend. For now, risk will stay on the upside as long as 1.1582 support holds, in case of retreat.

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) 146.08; (P) 147.43; (R1) 148.28; More...

USD/JPY is staying in range above 146.20 support and intraday bias remains neutral. On the downside, firm break of 146.20 will resume the fall from 150.90. Also, that would argue that rebound from 139.87 has completed as a corrective move to 150.90. Deeper fall should be seen to 142.667 support for confirmation. On the upside, above 148.76 will bring another rise to retest 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) 1.3431; (P) 1.3487; (R1) 1.3584; More...

Intraday bias in GBP/USD remains neutral for the moment. Overall, price actions from 1.3787 high are seen as a corrective pattern. On the upside, break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Firm break there will resume the larger up trend. For now, risk will stay on the upside as long as 1.3389 support holds, in case of retreat.

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 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 0.7976; (P) 0.8040; (R1) 0.8080; More….

Intraday bias in USD/CHF stays mildly on the downside at this point. Corrective rebound from 0.7871 might have completed with three waves up to 0.8170 already. Deeper fall should be seen back to retest 0.7871 low. Meanwhile, risk will stay on the downside as long as 0.8103 resistance holds, in case of recovery.

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) 1.3787; (P) 1.3856; (R1) 1.3897; More...

Intraday bias in USD/CAD remains neutral first. Price actions from 1.3538 are seen as a corrective pattern. As long as 1.3720 support holds, another rise could still be seen. However, upside should be limited by 1.4014 cluster resistance (38.2% retracement of 1.4791 to 1.3538 at 1.4017). Meanwhile, firm break of 1.3720 will argue that the corrective bounce has already completed, and bring retest of 1.3538 low.

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.