AUD/JPY has staged a bullish breakout from its major descending channel and traded back above its 200-day moving average. Short-term momentum remains positive supported by the 1-hour RSI oscillator. Key short-term support to watch for AUD/JPY is at 92.70. The ongoing 11-week up move from the 24 March 2023 low of 86.06 seen in the […]
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EUR/USD’s decline continued to stall above 1.0199 fibonacci level last week. Initial bias stays neutral this week first. But outlook will remain bearish as long as 1.0435 resistance holds. Decisive break of 1.0199 will resume Read more…
USD/JPY edged higher last week but upside momentum diminished, as seen in 4H MACD, as it approached 61.8% projection of 139.57 to 156.74 from 148.64 at 159.25. Initial bias is turned neutral this week first. Read more…
GBP/USD’s downside acceleration last week and break of 1.2256 fibonacci level suggest larger bearish trend reversal. Initial bias stays on the downside this week. Next near term target is 100% projection of 1.3433 to 1.2486 Read more…