For past 9 weeks GBP/JPY had been finding support near the 5-week EMA level with every drop in the price level. The currency pair broke that trend last week after over two months.

Past 3 weeks highs have been as follows:

Week of  January 7th: 144.42

Week of  January 17th:…

Last week EUR/USD had lost some momentum but had been still inching upward. The currency pair has been mainly staying over 5-day EMA. The sharp downward spike on November 29th found support near 22-day EMA (1.2880). The pair went as high as 1.3027 before closing for the week at 1.2985.

On one…

EUR/USD could not break below 200-day moving average support mentioned. The currency pair went as low as 1.2661 but jumped up to 1.2802 and after finding resistance below 22-day EMA, dropped by 112 …

Our overall near-term outlook for AUDJPY remains bearish but the loss of momentum during past 3 trading days indicate some possibilities of some extended sideways move and even some upward consolidation before another fall takes place.



On the upside we expect resistance near May 24th’s high of 79.18.…

Overall near-term outlook for AUDUSD remains bearish but the loss of momentum during past 3 trading days indicate some possibilities of some extended sideways move and even some upward consolidation before another fall takes place.



On the upside we expect a minor resistance near May 24th’s high of 0.9814 and…

The break over the January 6th to January 17th strong resistance zone and then 0.9500 psychological level has strengthened the near term bullish outlook and we expect further upward moves during the coming days.



On the upside, above the recent 0.9611 and then some resistance near 0.9620, we expect further…

The outlook for GBPUSD stays bearish and though, because of approaching psychological ranges of 1.5500, some sideways trading over 1.5600 level cannot be ignored but overall we expect deeper moves in the coming days.



On the upside we expect resistance near 1.5727 or the high of May 24th but a break of that…

The Euro zone crisis and the break of the critical psychological level of 100.00 had made the bearish outlook much stronger and overall we expect further deeper moves for the currency pair. For the past 2 trading days the currency pair has gone into a sideways mode. This was expected as a break below 99.00 will come as the final confirmation of a break of the psychological aspects of 100.00.



For the next week, initially we expect some more sideways move and even some upward…

The outlook for USD/JPY stays bearish till the resistance of 80.55/80.61 (May 2nd to May 17th) is not broken but initially we expect some more sideways moves below this level.



As mentioned that the outlook stays bearish, on the downside with a break below the recent 79.96, we would expect a…

The outlook for GBPJPY stays bearish and though we expect further fall during the coming days but the recent loss of momentum indicate that we can expect some extended sideways moves and possibly some upward consolidation before further downward moves.

 

On the downside, we would expect the next target…

The break of low of January 14th i.e. 1.2622 from where a strong upward move had started made the bearish outlook stronger. Not only this but the currency pair also broke the strong support level of August 26, 2011 i.e. 1.2587 and then tried to break the psychological support of 1.2500. This adds to be…

Status:

1) 5-day EMA crossed below 22-day EMA first time since March 8th.

2) Tenkan-sen of daily ichimoku cloud crossed below Kijun-sen. The signal is a weak bearish signal but it signals some more downward move 

3) As mentioned during the weekly analysis on last Sunday, such a strong upward move warrants a consolidation.

Possible targets:

1) 55-day EMA support near 81.20.

2) Support of the upper edge of daily Ichimoku cloud near 81.30.

3)…

During last week the currency pair mostly remained in volatile sideways and the attempt of recovery failed strongly at 0.9178. The fall after that took USDCHF to as low as 0.9067 or a bit lower than the previous low of March 9^th. The currency pair closed for the week at…

GBPUSD remained is a volatile sideways mode between 1.5923 and 1.5768. The downward move of Thursday found support almost at 55-day EMA…

AUDUSD went as low as 1.0336 or a little below Fibonacci 50% retracement of the upward move during December 26^th to March 1^st before recovering to 1.0482 and closing for the week at 1.0468.

For the next week if AUDUSD breaks over 1.0490/1.0500 then we would expect some…

GBPJPY went as high as 133.49 but found strong resistance and fell sharply. The currency pair then went as low as 130.01 before closing for the…

AUDJPY moved as high as 88.64 but found strong support and took a strong fall. The currency pair went as low as 85.18 before closing for the week at 86.19.

On one hand such a strong fall would make us expect some more downward move but on the other hand the current price level is quite…

EURJPY pair moved as high as 111.43 and found strong resistance there. 2 weeks back we had mentioned a resistance in 111.20 to 111.60 range. The currency pair, then, moved as low as 108.48 and found some support there. Please note that the support was slightly below the 22-day EMA as well as at Kijun-sen level…

USDJPY continuously found strong resistance below 84.20 level which we had mentioned 2 weeks back (quoted above) and fell from there. The currency pair went as low as 81.97 before closing for the week at…

USDJPY continuously found strong resistance below 84.20…