The GBPUSD had a significant bullish momentum yesterday, topped at 1.6259 and closed at 1.6240. On daily chart below we can see that price is now testing the trendline resistance indicating a critical technical phase. The bias is bullish in nearest term but note that as long as price stay below the trendline, the bearish scenario should remains intact.

The USDJPY failed to continue its bearish momentum yesterday. This fact lead me back to no trading zone condition as direction is unclear in nearest term. However, as long as price stay below 91.85, I still prefer a bearish scenario with sell on rallies strategy. Immediate resistance at 90.50 followed by 91.30. Initial support 89.80. Break below 89.80 should trigger further bearish momentum.

The USDCHF made another indecisive movement yesterday, but the pair has been making lower highs and lower lows in the last three days indicating consolidation with downside bias. I think we are still in no trading zone. Do not rush jump into the market. Immediate resistance at 1.0350. Break below that area should trigger further bearish momentum targeting 1.0220. On the upside, only a clear break above 1.0507 could be seen as bullish confirmation targeting 1.0600 – 1.0700 area.