Today’s highlights:
– USDJPY has been unable to hold Friday’s break above 103.10 – 38.2% of the entire 1998/2011 bear trend – and a bearish “reversal day” is threatening.
– EURJPY continues to hold below trend resistance at 133.42, and we favour a setback to 130.80/60 prior to the uptrend resuming.
– NZDUSD has achieved our .8067/52 initial target. A rebound from here is looked for, but with strength seen as corrective ahead of an eventual decline to .7655.
– AUDUSD has fallen sharply again. A near-term bounce is favoured, but with our core outlook bearish for .9585/75.
– USDCHF has achieved our .9770 target, which we look to cap at first.
– EURUSD only sees a major top below 1.2772/46.
– GBPUSD stays bearish for 1.5128, then 1.5054/27.
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