The USDJPY attempted to push higher on Friday, topped at 89.49 but further upside correction was rejected as price closed lower at 88.84. This fact should keep my bearish outlook intact with nearest technical target around 87.35 area especially if price able to break below 88.50 support area. Immediate resistance at 89.50. Break above that area should lead us into no trading zone testing 90.50 area but overall I still prefer a bearish scenario at this phase.

As you can see on my h4 chart below, price has break below the minor trendline support indicating potential bearish correction phase testing 1.0640 support area in nearest term but the main outlook should remain bullish for this pair. The bias is neutral in nearest term and I think we area in no trading zone. I prefer to wait for further development before make any decision but still prefer buy on dips strategy. Immediate resistance at 1.0800. Break above that area should trigger further upside momentum and keep the bullish scenario targeting 1.1000 intact for this week.

The EURUSD made another indecisive movement this week. Price attempted to push higher, topped at 1.3691 on Tuesday but still closed below 1.3650 on Friday indicating limited upside corrective pressure. On daily chart below we can see that price slipped above the minor bearish channel but closed lower around the upper line of the minor bearish channel. While long term outlook remains bearish, the medium term outlook is in critical technical phase. The fact that price slipped above the minor bearish channel could open the way for further bullish correction towards 1.3850 area.