Daily Forex News

USD/JPY continues to gyrate inside range of 94.87/96.56 today and intraday outlook remains neutral for the moment. As noted before, while another fall cannot be ruled out with 96.56 resistance intact, we still expect downside to be contained by 93.84/94.44 support zone and bring strong rebound to complete whole triangle…

EUR/JPY’s break of 135.15 resistance suggests that fall from 139.21 has completed at 131.41 already. Intraday bias is flipped to the upside and further rise could be seen. But we’d still slightly prefer the current rebound to be limited below 139.21 high and bring fall resumption. On the downside, below…

GBP/JPY’s break of 159.58 resistance confirms that fall from 162.56 has completed at 154.03 already and the three wave structure indicates that such fall is merely a correction in the larger rally. Further rise should now be seen to retest 162.56 high first and break will extend the whole rise…

Sterling is leading the breakout in forex markets today with GBP/USD taking out this year’s high of 1.6617 and soars to as high as 1.6747 so far while strength of the pound is also clearly seen against Euro and Yen. While risk appetite is cited as the main driving force…

The single currency finally broke through indicated resistance area at 135.17-135.38 (approx. the neckline resistance and this is also 50% Fibonacci retracement of 139.26 to 131.41 at 135.33), confirming the indicated inverse head and shoulder formation and the rise from 131.41 should extend towards 136.90/00. However, it is necessary to…

Cable’s rally after breaking above indicated resistance at 1.6622 confirms medium term upmove 1.3500 has resumed and further rise to 1.6800 is under way and eventually towards 1.6936-50 (50% projection of 1.4397 to 1.6664 measuring from 1.5803 and 50% Fibonacci retracement of 2.0399 to 1.3500) would follow, however price is…

As euro has maintained a firm tone after yesterday’s rally from 1.3982 on active cross-buying in EUR/YEN, suggesting a rise above resistance at 1.4139 is imminent and then further gain to 1.4177 cannot be ruled out, however a break of 1.4177 resistance is necessary to confirm the decline from 1.4339…

The greenback did rebound after trading above the support at 95.04 and although the currency pair has retreated from 96.33 and fall towards 95.25/30 cannot be ruled out, anticipated strength in EUR/YEN should limit downside and recent low at 94.88 should continue to hold, bring another rebound later to 96.33….

Despite falling to 131.41 last week, the single currency found good buying interest right at the Tenkan-Sen as well as the bottom of Ichimoku cloud and the rebound from there signals pullback from 139.26 has ended there and gain to 138.00 is likely, then retest of 139.26. Looking ahead, above…

Despite briefly retreated to 0.7790 last week, the Australian dollar continued to find good buying interest above the Tenkan-Sen and a retest of 0.8265 recent high looks imminent, however it is necessary to see a break above there to confirm the upmove from 0.6007 has resumed and extend gain to…