Reviews and Comparisons, Forex & Asset Management
EUR/JPY dipped to 110.00 initially last week but rebounded strongly since then. Nevertheless, upside is still limited below 113.40 resistance. Hence, we'd slightly favor the case that the cross has not bottomed yet. Initial bias is neutral this week. On the downside, break of 110.00 will suggest that recovery from
GBP/JPY had another volatile week last week but it's still bounded in range of 130.42/136.39 and we'll stay neutral. Nevertheless, it's looking increasing likely that price actions from 136.39 are merely consolidations to rebound from 126.73 only. Decisive break of 135.79 resistance will suggests that such rebound has resumed for
EUR/USD's rise from 1.1875 might still be in progress but even in case of further rise, we'd continue to look for sign of loss of momentum as EUR/USD approaches 1.3105/3123 cluster level (38.2% retracement of 1.5143 to 1.1875 at 1.3123, 161.8% projection of 1.1875 to 1.2466 from 1.2149 at 1.3105).
The strong recovery today suggests that USD/JPY's consolidation from 86.26 is still in progress and bias is turned neutral. Further rise cannot be ruled out but after all, upside is expected to be limited well below 89.14 resistance and bring fall resumption. Decisive break of 86.26 will target 84.81 key support level next.
USD/CHF's recovery extends further and the development suggests that consolidation from 1.0399 is still in progress. Intraday bias is turned neutral and stronger recovery might be seen. But still, outlook will remain bearish as long as 1.0674 resistance holds. Decisive break of 1.0399 will confirm that decline from 1.1729 has
Intraday bias in GBP/USD remains on the upside and whole rise from 1.4230 is resuming for 1.5470 and above. Note that decisive break of 1.5521 resistance will confirm that whole fall from 1.7043 has completed at 1.4230 already and target 61.8% retracement of 1.7043 to 1.4230 at 1.5968 next. However,
Sterling soars today as boosted by tremendously well Q2 GDP reading. GDP rose 1.1% qoq, 1.6% yoy comparing to expectation of 0.6% qoq, 1.1% yoy. This marked the third consecutive quarter of recover as the economy was supported by higher output by business services, finance and construction. The data also
Recent weakness in USD has been driven by disappointing US economic data and speculations that the Fed will implement further easing measures to boost recovery. Moreover, demand for the dollar as a safe-haven has also diminished as concerns over European sovereign crisis receded. While we share the opinion US' economy
GBP/JPY's strong rebound from 130.82 and break of 133.72 indicates that choppy sideway trading from 136.39 is still in progress and turns bias neutral. On the upside, break of break of 135.99 resistance will indicate that whole rebound from 126.73 has resumed and should target 61.8% retracement of 145.94 to
Strong rebound from 110.00 indicates that pullback from 113.36 has completed and bias is turned neutral. On the upside, note again that decisive break of 113.40 resistance will indicate that a medium term bottom is formed at 107.30 and stronger rise would be seen towards 38.2% retracement of 139.21 to
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