The USDJPY continued its bearish momentum yesterday, bottomed at 88.31 and closed at 88.45. This fact should trigger further bearish scenario targeting 87.35 area. Immediate resistance at 89.00 area. Break above that area could be seen as potential false breakdown scenario which could trigger significant bullish momentum testing 89.50 even 90.50 area.

The USDCHF had a significant bearish momentum yesterday, bottomed at 1.0647 and closed at 1.0677. The triple top formation around 1.0888 area able to trigger significant bearish correction so far even possible bearish reversal scenario testing the lower line of the major bullish channel. The bias is bearish in nearest term targeting 1.0507 area but we need a consistent move below 1.0640 to continue the bearish scenario. Immediate resistance at 1.0750 – 1.0800 area.

The EURUSD attempted to push lower yesterday, bottomed at 1.3435 but whipsawed to the upside and closed higher at 1.3613. The bias is bullish in nearest term but as you can see on h4 chart below, actually price is still moving in a range area of 1.3450 – 1.3690 indicating consolidation but still within a major bearish scenario.