USDJPY maintains the breakout from its “triangle” pattern and we stay bullish for 101.54/61 initially above which would retarget the 103.10/74 peak.
EURJPY has broken above range resistance at 132.75 targeting the 133.84 peak next. This remains key to a fresh leg higher to 139.14/141.13.
GBPUSD has swept aside layers of key resistance. Above 1.5828 should see strength extend to 1.6000/50 next, and eventually back to 1.6200.
Big picture, we stay bearish AUDUSD for .8675/.8546, and eventually near .8100. Although we expect further medium-term weakness for AUDUSD, a clear break above
.9346 would see a base complete, opening the door to a recovery back to .9511 initially, then .9700/30. We would look for a fresh top here. While .9346 caps, the risk can stay lower.
USDCHF continues to hold major support at .9130/.9021, and our bias remains to look for a base here, for strength back to .9650. Below .9021 would warn of a major top.
EURUSD has bounced, but is still seen staying under pressure in the broader range to 1.3021/1.2980. Above 1.3418/52 is needed to turn the trend higher for 1.3504/21 then 1.3711.
Read the full report: FX Research
Powered by WPeMatico