EUR/USD: Our bearish view was encouraged by the break below 1.3000. We expect further downside over the coming days and weeks towards our greater target near the 2013 lows at 1.2745. Former range lows near 1.3105 are likely to provide an area to sell against on any upticks.
USD/JPY: Having reached our initial upside targets near 105.50 we are now taking a short-term neutral stance given momentum divergence on the daily plot. A close above 105.50 would prompt us to re-establish a bullish view towards targets near 107.25/107.95. The former range highs near 104.50 provide buying interest on any dips.
GBP/USD: Further weakness saw GBPUSD reach our next downside target near 1.6400 and, in the absence of basing signals, we see no reason to change our bearish view. Next downside targets are near 1.6220/1.6250 and then the 1.6000 area.
AUD/USD: We are neutral given the failure to sustain a break above the 0.9375 range highs. A close above there is needed to confirm upside traction and make us bullish towards 0.9500.
Barclays