The Japanese yen is foreseen to sustain its weakness alongside the US dollar today on continuing speculation that the Bank of Japan will ramp up efforts to revive economic growth under pressure from Prime Minister Shinzo Abe.
USDCAD is facing 0.9824 support, a breakdown below this level will signal resumption of the downtrend from 1.0055, then further decline towards 0.9500 could be seen. Resistance is now at 0.9970, only break above this level could...
USDCHF breaks above the upper line of the price channel on daily chart, suggesting that the downward movement from 0.9511 had completed at 0.9083 already. Further rise is possible, and the target would be at 0.9400-0.9500 area.
USDJPY remains in uptrend from 77.14, and the rise extends to as high as 88.40. support is now at 87.00, as long as this level holds, the uptrend could be expected to continue, and next target would...
AUDUSD has formed a cycle bottom at 1.0344 on daily chart. Further rise to test 1.0585 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 1.0149, then next target...
GBPUSD has formed a cycle top at 1.6339 on daily chart. Further decline could be seen over the next several days, and next target would be at 1.5900 area. Key resistance is at 1.6339, only break above...
EURUSD breaks below the lower line of the price channel on daily chart, suggesting that the upward movement from 1.2661 has completed. Further decline would likely be seen, and the target would be at 1.2700-1.2800 area.
The USD/JPY pair had another strong session during the day on Friday, as the nonfarm payroll numbers of the United States came in right at consensus.
The USD/CAD pair went back and forth during the session on Friday as the 0.99 handle continues to be a magnet for price. However, by the end of the day the market closed below that level, and...
The GBP/USD pair fell during the Friday session, but found plenty of support at the 1.60 level in order to bounce and formed a nice-looking hammer. This hammer is formed essentially where you expected to be, and...
