EURUSD
The EURUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Overall I remain bullish but as long as stay below 1.2000 price is still in a bearish correction phase with key support seen at 1.1823. A clear break and daily close below that area could trigger further bearish correction testing 1.1750 – 1.1700 region but any downside pullback should be seen as a good opportunity to buy. On the upside, we need a clear break at least above 1.2000 to potentially end the current bearish correction phase targeting 1.2175 region or higher.
GBPUSD
The GBPUSD had a significant bullish momentum yesterday, broke above the range area as you can see on my daily chart below, topped at 1.3042 and hit 1.3044 earlier today in Asian session. The bias is bullish in nearest term testing 1.3125 region. Immediate support is seen around 1.2980 (former resistance). A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
USDJPY
The USDJPY had a bearish momentum yesterday bottomed at 108.63 and hit 108.50 earlier today in Asian session. The bias is bearish in nearest term but note that we need a clear break and consistent movement below 108.70 to continue the bearish pressure targeting 108.00 – 107.50 or lower. Immediate resistance is seen around 109.25. A clear break above that area could lead price to neutral zone in nearest term testing 109.80 – 110.00 region. Overall I remain neutral.
USDCHF
The USDCHF attempted to push higher yesterday topped at 0.9614 but whipsawed to the downside and closed lower at 0.9546. The bias is bearish in nearest term testing 0.9525 but key support remains at 0.9450. Immediate resistance is seen around 0.9600. A clear break above that area could lead price to neutral zone in nearest term testing 0.9650 area. I still prefer to stand aside and the best trading plan for me is to buy around 0.9450 or sell around 0.9765.
