EUR/USD: The current southward retracement in the price is expected to be a temporary thing. The price could easily assume a renewed bullish effort and slash through the resistance line at 1.3900. It would, however, be mentioned again that our ultimate target for this week is at the resistance line of 1.4000.
USD/CHF: The current rally in the context of a downtrend is expected to be short-lived, plus it could get contained at the resistance level of 0.8800. Our target at the support level of 0.8750 remains unchanged. With the renewal of the bearish team, the price would easily test that support level.
GBP/USD: There is a short-term bearish signal on the Cable and it could test the accumulation territory at 1.6600. A breach of that accumulation territory would eventually result in a clean Bearish Confirmation Pattern, especially when the price closes below it.
USD/JPY: The Bullish Confirmation Pattern in the chart remains a valid indication. In fact, the bullish outlook would remain valid as long as the price stays above the EMA 56. The price could go towards the supply level at 103.50, while the near-term barrier to the bearish threats is at the demand level of 103.00. Normally, our target for the week is set at the supply level of 104.00.
EUR/JPY: Right now, any sale in the price should be seen as an opportunity to buy long in the market. The outlook here is bullish and it is expected to continue. The price would test the supply zone at 144.00.
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