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The USDJPY is trading below the supply level of 99.00. The next target is at the demand level of 98.00.
EURUSD: This pair is currently moving sideways in the context of an uptrend. There is a support line at 1.3450, while it is expected that the price could rise further towards the resistance line of 1.3550, possibly breaking it to the upside, and closing above it. That could happen today or tomorrow.
USDCHF: The outlook on this currency instrument is in dichotomy with the EURUSD. The bias is bearish, but the price is currently ranging, the barrier being the support level of 0.9100. That support level could probably be breached to the downside (it has been tested severally), going towards another support level of 0.9000.
GBPUSD: There is still a clean Bullish Confirmation Pattern here – in spite of the recent shallow southward retracement. The accumulation territories of 1.6000 and 1.5900 ought to serve as barriers to the threats posed by the bears, for anything that makes the price trade below the accumulation territory of 1.5900 would have succeeded in rendering the bullish bias invalid.
USDJPY: The USDJPY is trading below the supply level of 99.00. The next target is at the demand level of 98.00. This pair is now trading below the EMA 56, as the RSI period 14 itself is below the level 50. It looks prudent to seek short trades at the juncture. Should serious selling pressure resume, it could reach the demand level at 98.00; just as it did last week. The price is now close to the demand level of 98.50.
EURJPY: The EURJPY is trading below the supply zone of 133.50. The next target is at the demand zone of 133.00. The immediate barriers to any rallies are at the supply zones of 134.00 and 134.50.
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