Author: FX Tech Strategy

GBPJPY – While upside risk is still seen, GBPJPY must break and hold above the 124.32 level to trigger its recovery. Above here will aim at the 125.50 level and possibly higher. Its daily RSI is bearish and pointing higher...

USDJPY: Although USDJPY is now seen backing off higher prices, its nearer term outlook remains corrective. Its bullish weekly close the past week is consistent with this view. However, it will have to return above 79.78 level...

USDJPY: Having paused its recent declines and triggered a recovery, further upside is likely. In such a case, the 80.51 level will be targeted with a cut through there targeting its April 04’2012 high at 81.85. Above here...

EURUSD: While EUR may have halted its broader weakness and closed higher the past week, it continues to hold its medium term downside bias. This suggests that on any failed recovery, the pair should return to the 1.2286 level...

USDCHF: Although USDCHF has closed lower the past week on corrective pullbacks, it continues to hold on to its broader medium term uptrend. However, it will require a return above the 0.9768 level, its Jun’2012 high to...

AUDUSD: With a shooting star candle (top reversal signal) formed and a follow through lower seen, there is risk of further declines in the days ahead. In such a case, the 0.9735 level will be targeted where a violation will call...

EURJPY-Further price extension is likely having continued to hold on to its recovery tone. With the cross now holding above the 99.23 level, the risk is for it target the 100.00 level where price hesitation is expected to occur...

USDCHF: Corrective pullbacks is continuing as USDCHF remains weak and vulnerable. Now seen below the 0.9591 level, price extension could see it weakening further towards the 0.9500 level or even the 0.9400 level and then the...

EURUSD: After reversing its Tuesday weakness on a rally on Wednesday, risk of further corrective recovery is likely. This leaves the immediate resistance at the 1.2622 level, its May 28’2012 high. A decisive clearance of...