FXTechstrategy Team

USDJPY: Hesitates Ahead Of The 107.52 Level. USDJPY: Trouble is now looming ahead of the 107.52 level as USDJPY is now facing bear threat. If it closes lower on a negative candle, it would have ended its recovery and turned risk lower. On the downside, support comes in at the 106.00 level where a break if seen will aim at the 105.50.00 level. A break if it occurs will aim at the 106.00 followed by the 105.00. Conversely, resistance resides at the 107.50 level where a break will target the 108.00 level. Further out, resistance comes in at the 108.50 level where a violation will aim at the 109.00 level. On the whole, USDJPY remains exposed to the downside short term.

USDCHF: Bearish, Extends Weakness USDCHF: Outlook for the pair continues to point lower following its bearish price extension the past week. On the downside, support lies at the 0.9350 level with a break targeting the 0.9300 level and then the 0.9250 level. Further down, support comes in at the 0.9200 level. A cut through here will target the 0.9150 level. On the upside, resistance resides at the 0.9450 level where a break will aim at the 0.9500 level. Further out, resistance resides at the 0.9550 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction

EURJPY: Targets Further Bullishness EURJPY- Having reversed its intra day weakness to close higher on a rejection candle formation on Thursday, further recovery higher is likely. Support comes in at the 135.50 level where a break will aim at the 135.00 level. A break will target the 134.50 level with a breach turning focus to the 134.00 level. Below here will aim at the 133.50 level. On the upside, resistance resides at the 136.50 level where a break if seen will threaten further upside towards the 137.00. Further out, resistance resides at the 137.50 level where a break will aim at the 138.00. All in all, the cross faces correction recovery risk.

USDJPY: Pullback Threats Seen But With Caution USDJPY: With USDJPY reversing its Tuesday gains to close lower on sell off on Wednesday, further downside pressure is envisaged. However, a corrective recovery higher may occur in the days ahead especially now that it has tested its key support at 105.43 level (visible on the weekly chart). On the downside, support comes in at the 105.00 level where a break will target the 104.50 level. Below here if seen will aim at the 104.00 level followed by the 103.50 and then the 103.00. On the upside, resistance resides at the 106.50 level followed by the 107.00 level where a break will target the 107.50 level. Further out, resistance comes in at the 108.00 level where a violation will aim at the 108.50 level. On the whole, USDJPY remains exposed to the downside.

EURJPY: Faces Further Downside Pressure. EURJPY- With the cross turning lower and reversing its Monday gains, further decline is envisaged. Support comes in at the 135.00 level where a break will aim at the 134.50 level. A break will target the 134.00 level with a breach turning focus to the 133.50 level. Below here will aim at the 133.00 level. On the upside, resistance resides at the 136.00 level where a break if seen will threaten further upside towards the 136.50. Further out, resistance resides at the 137.00 level where a break will aim at the 137.50. All in all, the cross faces correction recovery risk.

GBPUSD: Sells Off, Eyes More Decline GBPUSD: With GBP selling off to resume its broader downtrend during Thursday trading session, further weakness is likely. On the downside, support lies at the 1.5920 level where a break will aim at the 1.5850 level. A break of here will turn attention to the 1.5800 level. Further down, support lies at the 1.5750 level. Its daily RSI is bullish and pointing lower supporting this view. Resistance resides at the 1.6000 level with a break aiming at the 1.6050 level. A violation will aim at the 1.6100 level and possibly higher towards the 1.6150 level. On the whole, GBP continues to retain its broader downside bias medium term

AUDUSD: Halts Weakness, Rallies AUDUSD: With the pair on the verge of reversing its entire Friday losses, further strength is now envisaged. This is coming on the back of a rally off its intra day low at 0.8651. On the upside, resistance resides at the 0.8800 level where a breach will aim at the 0.8850 level. Above that level will set the stage for a run at the 0.8900 level with a cut through here resuming its broader uptrend towards the 0.8950 level. On the downside, support lies at the 0.8700 level. A cut through here will turn attention to the 0.8650 level and then the 0.8600 level where a violation will set the stage for a retarget of the 0.8550 level. All in all, the pair faces recovery threats.

GOLD: Faces Recovery Risk GOLD: With GOLD triggering a recovery higher the past week, further bullishness is expected in the new week. However, its Thursday and Friday trading activities may suggest a halt in that recovery. On the upside, resistance lies at the 1,250.00 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support stands at the 1,200.00 level. Below here could trigger further downside towards the 1,170.00 level where a break will aim at the 1,150.00 level. A break will target the 1,100.00 level. All in all, GOLD remains biased to the downside in the medium term though facing recovery threats.

EURUSD: Recovers Higher On Correction EURUSD: Except EUR returns above the 1.2791 level, it faces a possible reversal of its corrective recovery triggered the past week. Support lies at the 1.2550 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2300 level. If this continues, expect further downside to occur towards the 1.2250 level. On the upside, resistance lies at the 1.2791 level where a break will aim at the 1.200 level, its psycho level followed by the 1.2650 level. Further out, resistance comes in at the 1.2700 level. All in all, EUR remains biased to the downside in the medium term.

USDCHF: Weakens But With Caution USDCHF: With the pair closing lower the past week, it faces further downside pressure. However, on the daily chart that weakness seem to have been halted suggesting a resumption of its broader upside could be developing. On the downside, support lies at the 0.9500 level with a break targeting the 0.9450 level and then the 0.9400 level. Further down, support comes in at the 0.9350 level. A cut through here will target the 0.9300 level. On the upside, resistance resides at the 0.9680 level where a break will aim at the 0.9750 level. Further out, resistance resides at the 0.9800 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the upside in the medium term despite recovery threats.

AUDUSD: Declines, Targets Further Downside AUDUSD: Having turned lower off its higher prices following an end to its correction on Thursday, further decline is now seen. Support lies at the 0.8650 level with a cut through here turning attention to the 0.8600 level and then the 0.8550 level where a violation will set the stage for a retarget of the 0.8500 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.8800 level where a breach will aim at the 0.8850 level. Above that level will set the stage for a run at the 0.8900 level with a cut through here resuming its broader uptrend towards the 0.8950 level. All in all, the pair faces further downside risk.

USDCHF: Bearish, Extends Weakness USDCHF: With the pair remaining vulnerable to the downside and extending its weakness during Thursday trading session, we look for more decline to occur. On the downside, support lies at the 0.9450 level with a break targeting the 0.9400 level and then the 0.9350 level. Further down, support comes in at the 0.9300 level. A cut through here will target the 0.9250 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 0.9532 level where a break will aim at the 0.9595 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower. All in all, the pair remains biased to the downside on correction

EURUSD: Eyes Further Upside On Recovery EURUSD: With EUR remaining biased to the upside on recovery, further strength is envisaged. Support lies at the 1.2570 level where a break will expose the 1.2500 level. Below here will pave the way for a move lower towards the 1.2450 level. If this continues, expect further downside to occur towards the 1.2400 level. On the upside, resistance lies at the 1.2750 level where a break will aim at the 1.2800 level, its psycho level followed by the 1.2850 level. Further out, resistance comes in at the 1.2900 level. All in all, EUR remains biased to the downside in the medium term.

USDCAD: USDCAD: Corrective Pullback Not Yet Over. USDCAD: With the pair weakening strongly on correction on Monday, it face further downside pressure. Despite price hesitation corrective bias remains. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 level. On the upside, resistance is seen at the 1.1200 level followed by the 1.1250 level. Further out, resistance comes in at the 1.1300 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1350 level All in all, USDCAD continues to face further upside risk.

EURJPY: Bearish, Vulnerable EURJPY- While the cross continues to hold on to its downside pressure, further decline is possible. However, we think a correction higher cannot be ruled out. Support comes in at the 137.00 level where a break will aim at the 136.50 level. A break will target the 137.00 level with a breach turning focus to the 136.00 level. Below here will aim at the 135.50 level. On the upside, resistance resides at the 138.00 level where a break if seen will threaten further upside towards the 138.50. Further out, resistance resides at the 139.00 level where a break will aim at the 139.50. All in all, the cross faces correction weakness risk.

EURGBP- Bearish, Threatens Further Downside EURGBP- We continue to hold our downside bias on the cross as it continues to maintain its bearishness. On the downside, support lies at the 0.7800 level where a break will expose the 0.7780 level. Further down, support comes in at the 0.7750 level where a violation will turn attention to the 0.7700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 0.7900 level where a violation if seen will turn focus to the 0.7950 level. All in all, the cross is biased to the downside in the medium term.

EURJPY: Weakens, Maintains Downside Bias EURJPY- With EURJPY turning lower on a sell-off during Tuesday trading session, the risk is for more weakness to occur. Support comes in at the 137.50 level where a break will aim at the 137.00 level. A break will target the 136.61 level with a breach turning focus to the 136.00 level. Below here will aim at the 135.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 138.50 level where a break if seen will threaten further upside towards the 138.92. Further out, resistance resides at the 139.50 level where a break will aim at the 140.00. All in all, the cross continues to face correction weakness risk.

GBPJPY: Faces Corrective Pullback Threats GBPJPY – Although GBPJPY may be holding on to its medium term uptrend, it faces corrective pullback threats. While the 180.70 level continues to hold as resistance, corrective pullback cannot be ruled out. On the downside, support comes in at the 177.00 level where a violation will aim at the 176.50 level. A break below here will target the 176.00 level followed by the 175.50 level. Further down, support lies at the 175.00 level. Resistance lies at the 178.50 level followed by the 179.00 level where a break will aim at the 179.50 level. A cut through here will aim at the 180.00 level. All in all, the cross remains biased to the upside medium term

EURUSD: Continues To Face Downside Pressure EURUSD: Outlook for EUR remains lower after extending its weakness below the 1.2700 level the past week. Support lies at the 1.2600 level where a break will expose the 1.2550 level. Below here will pave the way for a move lower towards the 1.2500 level. If this continues, expect further downside to occur towards the 1.2450 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 1.2750 level where a break will aim at the 1.2800 level, its psycho level followed by the 1.2850 level. Further out, resistance comes in at the 1.2900 level. All in all, EUR remains biased to the downside in the medium term.

USDCHF: Bullish, Threatens, Further Upside. USDCHF: With USDCHF closing higher on a follow through higher on the back of its previous week gains, further upside is envisaged. On the upside, resistance resides at the 0.9550 level where a break will aim at the 0.9600 level. Further out, resistance resides at the 0.9650 level. A breather may occur here and turn the pair lower. Its weekly RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 0.9450 level with a break targeting the 0.9400 level and then the 0.9350 level. Further down, support comes in at the 0.9300 level. A cut through here will target the 0.9250 level. All in all, the pair remains biased to the upside medium term.

AUDUSD: Price hesitation Sets In. AUDUSD: W Though seeing a price hesitation during Friday trading session today, it continues to maintain its broader medium term downside pressure. Support lies at the 0.8750 level. A cut through here will turn attention to the 0.8700 level and then the 0.8650 level where a violation will set the stage for a retarget of the 0.8600 level. On the upside, resistance resides at the 0.8850 level where a breach will aim at the 0.8900 level. Above that level will set the stage for a run at the 0.8950 level with a cut through here resuming its broader uptrend towards the 0.9000 level. All in all, the pair faces further downside risk on correction.

EURJPY: Extends Corrective Pullbacks EURJPY- With the cross vulnerable and targeting further downside, more decline is envisaged. Support comes in at the 138.50 level where a break will aim at the 138.00 level. A break will target the 137.50 level with a breach turning focus to the 137.00 level. Below here will aim at the 136.50 level. On the upside, resistance resides at the 140.00 level where a break if seen will threaten further upside towards the 140.50. Further out, resistance resides at the 141.00 level where a break will aim at the 141.50. All in all, the cross faces correction weakness risk.

USDCAD: Maintains Offensive Bias USDCAD: With USDCAD continuing to retain its broader upside bias, further bullishness is now envisaged. In such a case, it will aim at 1.1097 level. On the upside, resistance is seen at the 1.1150 level followed by the 1.1200 level. Further out, resistance comes in at the 1.1250 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1150 level. On the downside, support lies at the 1.1050 level followed by the 1.1000 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.0950 level and then the 1.0900 level. All in all, USDCAD continues to face further upside risk.

GOLD: Triggers Recovery, Eyes Further Upside. GOLD: With GOLD triggering a correction higher during Thursday trading, further bullishness is envisaged. Support stands at the 1,200.00 level. Below here could trigger further downside towards the 1,180.00 level where a break will aim at the 1,150.00 level. A break will target the 1,130.00 level with a violation turning attention to the 1,100.00 level. On the upside, resistance lies at the 1,250.00 level where a break will target the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.30 level. All in all, GOLD remains biased to the upside in the nearer term on correction.

EURUSD: Recovery Threats Envisaged. EURUSD: With EUR turning higher on Tuesday to halt its weakness, it could be building up energy to recover higher. Support lies at the 1.2800 level where a break will expose the 1.2750 level. Below here will pave the way for a move lower towards the 1.2700 level. If this continues, expect further downside to occur towards the 1.2650 level. On the upside, resistance lies at the 1.2900 level where a break will aim at the 1.2950 level, its psycho level followed by the 1.3000 level. Further out, resistance comes in at the 1.3050 level. All in all, EUR remains biased to the downside in the medium term