The USDJPY attempted to push lower yesterday, bottomed at 89.13 but closed significantly higher at 89.85 and keep moving higher around 90.01 at the time I wrote this comment. The bias is neutral in nearest term. As you can see on my daily chart below, we have a bearish channel so I still prefer a bearish scenario at this phase with sell on rallies strategy. Expected range at 90.60 – 89.00. A violation to the bearish channel should be seen as a serious threat to the bearish scenario.

The USDCHF had a moderate bullish momentum yesterday, slipped above 1.0507 but still unable to stay convincingly above that level. The bias remains to the upside but we need a consistent move above 1.0507 area to continue the bullish scenario towards 1.0600 – 1.0700.  Immediate support at 1.0460. Break below that area should trigger further bearish correction testing 1.0350 area.

The EURUSD had a bearish momentum yesterday, bottomed at 1.4042 and closed at 1.4071. On h4 chart below we have two bearish channel indicating a strong bearish phase. The bias is bearish in nearest term but note that we have a good support around 1.4000/30 area. We need a clear break below that area to continue the bearish scenario targeting 1.3750. Immediate resistance at 1.4120 area. Break above that area should trigger further bullish correction towards 1.4200 – 1.4250 but I still prefer a bearish scenario with sell on rallies strategy.