USDCHF: Bearish, Extends Weakness
USDCHF: Outlook for the pair continues to point lower following its bearish price extension the past week. On the downside, support lies at the 0.9350 level with a break targeting the 0.9300 level and then the 0.9250 level. Further down, support comes in at the 0.9200 level. A cut through here will target the 0.9150 level. On the upside, resistance resides at the 0.9450 level where a break will aim at the 0.9500 level. Further out, resistance resides…Continue
EURJPY: Targets Further Bullishness
EURJPY- Having reversed its intra day weakness to close higher on a rejection candle formation on Thursday, further recovery higher is likely. Support comes in at the 135.50 level where a break will aim at the 135.00 level. A break will target the 134.50 level with a breach turning focus to the 134.00 level. Below here will aim at the 133.50 level. On the upside, resistance resides at the 136.50 level where a break if seen will threaten further…Continue
USDJPY: Pullback Threats Seen But With Caution
USDJPY: With USDJPY reversing its Tuesday gains to close lower on sell off on Wednesday, further downside pressure is envisaged. However, a corrective recovery higher may occur in the days ahead especially now that it has tested its key support at 105.43 level (visible on the weekly chart). On the downside, support comes in at the 105.00 level where a break will target the 104.50 level.…Continue
EURJPY: Faces Further Downside Pressure.
EURJPY- With the cross turning lower and reversing its Monday gains, further decline is envisaged. Support comes in at the 135.00 level where a break will aim at the 134.50 level. A break will target the 134.00 level with a breach turning focus to the 133.50 level. Below here will aim at the 133.00 level. On the upside, resistance resides at the 136.00 level where a break if seen will threaten further upside towards the 136.50. Further out,…Continue