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Long term bias is still short on USD/JPY

Daily Vision

The USDJPY was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above 114.70. I still prefer a bullish intraday scenario at this phase targeting 114.10 region.
Immediate resistance is seen around 114.78. A clear break and daily close above that area could trigger further bullish pressure testing 113.96 region. Immediate support is seen around 113.30 .
A clear break below that area could trigger further bearish pressure whi…
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Australian Dollar Faces Perfect Storm of Key Event Risk Ahead

Daily analysis
AUD/USD started the week at 0.7225 and climbed to a high of 0.7283. The pair then reversed directions and dropped to a low of 0.7158, testing support at 0.7160. The pair closed at 0.7191. The Australian Dollar faces a perfect storm of volatility in the week ahead as high-profile event risk on the homegrown and the external fronts looms ahead. Monetary policy considerations are first to take center stage, only to be replaced by churn in risk sentiment trends. The RBA is expected …
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USD/CHF Loses Upside Momentum

Daily analysis

In mid-March the Swiss Franc weakened to virtual parity with the US Dollar at 1.00926. In the next eight weeks it steadily strengthened to its six month low to 0.91222 to the US Dollar, a 9.618% gain. In the weeks following USD/CHF six month high, the Franc steadily strengthened vs the greenback. In spite of the efforts of the Swiss National Bank to weaken the Franc in order to protect its export dependent economy, it stubbornly remained strong relative to the majors. With growin…
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GBP/USD forming a bearish pattern

Daily analysis

GBP/USD opened the week at 1.5187 and touched a high of 1.5190. The pair then reversed directions and dropped to 1.5028, as support held firm at 1.5026. The pair closed the week at 1.5031. and the price of 1.5000 has been significant in the recent history of GBP/USD; and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 1.5000 level for risk w…
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USD/CHF Loses upside momentum

Daily analysis
USDCHF printed a rejection to halt its upside offensive and close lower the past week. This price action has created downside risk as we enter a new week. On the downside, support comes in at the 0.9600 level. A turn below here will open the door for more weakness targeting the 0.9550 level and followed by the 0.9600 level. A cut through here will bring additional weakness towards the 0.9550 level.
weekly analysis
Weekly RSI is bearish and pointing lower suggesting further weaknes…
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