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The USD/JPY has maintained its bullish bias and would likely test the supply level at 104.50 again. Eventually, it is hoped that the supply level would be overcome and breached to the upside.
EUR/USD: The bias here is bearish and the upswing in the Williams’ % Range shows that the current northward attempt, though shallow, offers a good shorting opportunity. When this does happen, there would be another downswing in the Williams’ % Range. There would be short-term selling pressure.
USD/CHF: The bias on the USD/CHF is bullish and the downswing in the Williams’ % Range shows that the current southward attempt, though shallow, offers a good purchasing opportunity. When this does happen, there would be another upswing in the Williams’ % Range. There would be short-term buying pressure on this pair.
GBP/USD: The bias on the Cable remains unclear. The price has been ranging seriously in recent days, being accompanied by mixed signals in the chart. For example, the RSI shows a possibility of bears’ domination, while the EMAs support the bulls. It is better to remain neutral here until there is a clear directional signal.
USD/JPY: The USD/JPY has maintained its bullish bias and would likely test the supply level at 104.50 again. Eventually, it is hoped that the supply level would be overcome and breached to the upside. Should there be any pullbacks in the price here, they would be transitory.
EUR/JPY: This currency instrument continues to trudge upwards in a slow and steady manner. Day traders may continue to harvest some pips as the Euro continues its weakness versus the Yen. The supply zone at 143.00 stands the chance of being tested as the price is very close to it.
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