The USDCHF was indecisive yesterday. On daily chart below we can see that price so far unable to stay above 1.1175 area indicating limited bullish momentum so far, but the major scenario remains to the upside. We need a break above 1.1200 today to continue the bullish scenario testing 1.1250 and 1.1300/30 region. On the downside, immediate support at 1.1065/50. Break below that area could trigger further bearish pressure testing 1.1000 region.

The USDJPY had a significant bearish momentum yesterday, bottomed at 88.23 but closed higher at 90.53 and keep corrected higher around 91.68 at the time I wrote this comment. On daily chart below we can see that price violated the bullish channel, slipped below the major trendline support but now traded higher above the trendline indicating the major bullish scenario remains intact so far but surely under serious threat especially if price move below the trendline support again testing 88.15 region. Break below that level could trigger further bearish scenario testing 84.82 area in longer term view. Immediate resistance at 92.50.  I personally don’t like huge movement in a volatile market since my risk management looks bad.

The GBPUSD made a huge bearish movement yesterday, slipped below 1.4779, bottomed at 1.4712 but corrected higher around 1.4850 at the time I wrote this comment. The bias is bearish both in nearest and medium term. Another movement below 1.4779/60 area could continue the bearish pressure testing 1.4712 and 1.4660 before testing 1.4500 region. On the upside, immediate resistance at 1.4932 (current high). Break above that area could trigger further bullish correction testing 1.5000 area but I prefer a bearish scenario at this phase with short on rallies strategy.

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2523 and closed at 1.2619 but corrected higher earlier today in Asian session, touched 1.2677. The bias is neutral in nearest term and I am anticipating some upside correction after significant bearish, but the main scenario remains to the downside and I am still in bearish mode especially if price able to break minor support around 1.2550 area today, re-testing 1.2520 region. Break below 1.2520 could continue bearish pressure targeting 1.2450 area before testing 1.2300 region in longer term of view. On the upside, immediate resistance at 1.2690. Break above that area could trigger further upside correction testing 1.2770 region but any upside pullback won’t be a surprise.  Looks like investors are getting more pessimistic about the global recovery which lead “safe haven” instruments like Yen, Dollar and Gold gain significantly.

The USDCHF had a significant bullish momentum yesterday, topped at 1.1034 and closed at 1.1027 after break above 1.0888 – 1.0923 area yesterday. The bias is bullish in nearest term targeting 1.1175 – 1.1250 area especially if price able to break above 1.1095 area today. Immediate support at 1.0950. Break below that area could trigger further bearish pullback testing 1.0888 area.

The USDJPY was indecisive yesterday. The bias is neutral in nearest term. The major bullish scenario remains intact but price has a problem to consistently move above 94.70 key level. I think we need a break above 95.10 area to continue the bullish scenario testing 95.50 and 96.70 this week. Immediate support at 94.31 (yesterday’s low). Break below that area could trigger further bearish momentum testing 94.00 region.

The GBPUSD slipped below 1.5128 yesterday, indicating potential downside scenario. On h4 chart below we can see that price is now struggling around the lower line of the range area around 1.5128. The bullish scenario surely in a serious threat especially if price able to move below 1.5070 area today, targeting 1.5000 psychological level before back towards 1.4779 region as bullish scenario fails. Immediate resistance at 1.5210 area. Break above that area could trigger further bullish momentum testing 1.5290 area and keep the neutral bias in medium term intact and brings us back in range area of 1.5520 – 1.5128 again.

The EURUSD continued its bearish momentum yesterday after breakdown from the triangle, bottomed at 1.2981, closed at 1.2988 and keep moving lower around 1.2977 at the time I wrote this comment. The bias is bearish in nearest term targeting 1.2880 – 1.2850 area especially if price continue to push lower and break below 1.2920 support area today. Immediate resistance at 1.3060/50 area. Break above that area could trigger further minor bullish correction testing 1.3130 region but overall the main scenario remains to the downside.

The USDCHF had a bullish momentum yesterday, but as you can see on my daily chart below price still unable to stay consistently above 1.0888 region. The bias is bullish in nearest term but we need a clear break above 1.0923 area to confirm the bullish scenario targeting 1.1000 area. Immediate support at 1.0785. Break below that area could trigger further bearish momentum testing 1.0700 region.

The USDJPY had a bullish momentum yesterday. On daily chart below we can see that price is now struggling around 94.70 region. The bias is bullish in nearest term but note that we need a consistent move above 94.70 area to continue the major bullish scenario towards 95.50 and 96.70 this week. Another movement below 94.70 area could lead us back into no trading zone as direction would become unclear.