The Japanese yen weakened broadly last week as solid economic data from China boosted investors’ optimism for recovery and risk appetite. S&P 500 broke January’s high of 1150 briefly before closing 1149.99. Nikkei also managed to rise 382 pts to close at 10751. There were also additional pressure to yen…
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EUR/USD’s consolidation from 1.3443 continued last week and rose further to as high as 1.3795. Initial bias remains on the upside this week and stronger rise could be seen. But after rally, we’re expecting strong resistance at 1.3852 (38.2% retracement of 1.4578 to 1.3443 at 1.3861) and bring fall resumption…
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Despite edging higher to 91.08 last week, USD/JPY lose momentum with bearish divergence conditions in 4 hours MACD and RSI and made a short term top there. Initial bias is neutral this week and some consolidations should be seen below 91.08 first. Nevertheless, downside should be contained by 89.62 cluster…
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GBP/USD’s consolidation from 1.4783 continued last week with another rise to above 1.5194 resistance. Initial bias remains mildly on the upside this week and further recovery could still be seen. But after all upside is still expected to be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 and…
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USD/CHF dropped sharply to as low as 1.0575 last week and initial bias remains on the downside this week for rising trend line support (now at 1.0448). While the fall from 1.0897 is deeper than we originally thought, there is no change in the view that it’s a correction in…
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