USD/JPY’s recovery from 79.42 extends higher but is still limited below 80.61 resistance. Outlook remains cautiously bearish and recent decline is still expected to continue. Below 79.42 will target 61.8% retracement of 76.02 to 84.17 at 79.13 first. Break will pave the way to 75.56/76.02 support zone. However, above 80.61

Greece triggered selloff in risk markets seems to have exhausted today as markets recovered in early US session on US housing data. The near term situation is somewhat cleared that Council of State president Panagiotis Pikramenos will lead the caretaker government till election, which is now set to be on

GBP/USD drops to as low as 1.5888 so far today and touched mentioned 38.2% retracement of 1.5234 to 1.6300 at 1.5893. Intraday bias remains on the downside for further decline and sustained trading below 1.5893 will target 61.8% retracement at 1.5641 next. On the upside, above 1.5988 minor resistance will

The BOE released a dovish quarterly inflation report in May, lowering both inflation and GDP growth forecasts from February projections. Policymakers also cited the worsening situation in the Eurozone would affect the UK’s path to recovery and there was a “risk of a storm heading our way from the continent”.

No change in GBP/JPY’s outlook. Further decline is still expected with 129.57 resistance intact. Break of 127.10 will confirm resumption of whole fall from 133.48 and should target 61.8% retracement of 117.29 to 133.48 at 123.47. However, downside momentum is so far rather weak. A break of 129.57 will indicate

EUR/JPY’s decline extends further today and reaches as low as 101.90 so far. Intraday bias remains on the downside and sustained trading below 61.8% retracement of 97.03 to 111.43 at 102.53 will pave the way to retest 97.03 low. On the upside, 102.86 minor resistance will turn bias neutral and

EUR/GBP’s fall is still in progress and reaches 0.7949 so far. Intraday bias remains on the downside for 100% projection of 0.8330 to 0.8221 from 0.8505 at 0.7896 next. On the upside, above 0.8048 minor resistance will turn bias neutral and bring consolidations first. But in that case, upside should

EUR/USD dives to as low as 1.2680 so far today and intraday bias remains on the downside for a test on 1.2625 low. Whole decline from 1.4939 is possibly resuming and break of 1.2625 will target 61.8% projection of 1.4246 to 1.2625 from 1.3486 at 1.2484 next. On the upside,

GBP/USD’s decline from 1.6300 accelerates to as low as 1.5932 so far today. Intraday bias remains on the downside for 38.2% retracement of 1.5234 to 1.6300 at 1.5893 first. Break will target 61.8% retracement at 1.5641 next. On the upside, above 1.6050 minor resistance will turn bias neutral and bring consolidation first before staging another fall.

USD/CHF rises further to as high as 0.9470 so far today. intraday bias remains on the upside and current rally is expected to target 0.9594 high next. On the downside, below 0.9374 minor support will turn bias neutral and bring consolidation first. But in that case, downside should be contained