The USDJPY failed to maintain its bullish momentum yesterday, bottomed at 90.13 and closed at 90.29. The bias is neutral in nearest term, but the failure to stay above 90.50 area could produce a false breakout scenario which could trigger bearish momentum testing 89.50 area. The bullish correction scenario remains intact but we need a consistent move above 90.50 area to continue bullish momentum targeting 91.50 region.

The USDCHF was indecisive yesterday, leave us in range area of 1.0888 – 1.0640 area. We have no significant technical movement so far and price still consolidating but still in the context of bullish major scenario. I think the best strategy remains to short around 1.0888 or long around 1.0640 with tight stop loss. Break above 1.0888 – 1.0900 area should continue the bullish scenario targeting 1.1000 while a break below 1.0640 should trigger further bearish correction towards 1.0507 area.

The GBPUSD had a bullish momentum on Friday. As you can see on my daily chart below price bounce back to the upside after touched the major trendline support, indicating potential upside correction scenario but the main trend should remain bearish. The bias is neutral in nearest term. Immediate support at 1.5100. Break below that area should trigger further bearish momentum testing 1.5000. Initial resistance at 1.5250. Break above that area should trigger further upside momentum testing 1.5380 area.