There is a short-term bearish signal on the Cable and it could test the accumulation territory at 1.6600.
EUR/USD: The current southward retracement in the price is expected to be a temporary thing. The price could easily assume a renewed bullish effort and slash through the resistance line at 1.3900. It would, however, be mentioned again that our ultimate target for this week is at the resistance line of 1.4000.
USD/CHF: The current rally in the context of a downtrend is expected to be short-lived, plus it could get contained at the resistance level of 0.8800. Our target at the support level of 0.8750 remains unchanged. With the renewal of the bearish team, the price would easily test that support level.
GBP/USD: There is a short-term bearish signal on the Cable and it could test the accumulation territory at 1.6600. A breach of that accumulation territory would eventually result in a clean Bearish Confirmation Pattern, especially when the price closes below it.
USD/JPY: The Bullish Confirmation Pattern in the chart remains a valid indication. In fact, the bullish outlook would remain valid as long as the price stays above the EMA 56. The price could go towards the supply level at 103.50, while the near-term barrier to the bearish threats is at the demand level of 103.00. Normally, our target for the week is set at the supply level of 104.00.
EUR/JPY: Right now, any sale in the price should be seen as an opportunity to buy long in the market. The outlook here is bullish and it is expected to continue. The price would test the supply zone at 144.00.
Source: Forex | Online Forex Trading | Currency Trading | Forex Broker
Since the USD/JPY is extremely bearish, we are looking forward to selling rallies on it this week.
EUR/USD: The bias on this pair is bullish, and the price is expected to trend higher this week. The possibility of pullbacks cannot be ruled out, but the threats should be contained at the support lines of 1.3850 and 1.3800 respectively. Meanwhile the resistance line at 1.4000 is a valid target for this week.
USD/CHF: This is a bear market, although it is slow and tardy in manner. The support level at 0.8700 has been tested and it is should be easily re-tested, and breached to the downside. After this, the price would then go further downwards towards the support level at 0.8650 – which is our target for this week.
GBP/USD: The Cable, which is a kind of a trendless market, remains difficult for swing traders to handle. Only intraday strategies are recommended here. One may buy at the distribution territory of 1.6700 and sell at the accumulation territory of 1.6600; for as long as the trendless phase holds out. Eventually, there is going to be a serious breakout which leads to a clear directional bias. When this happens, it is more likely to be towards the downside, for there is a bearish indication in the chart at the present.
USD/JPY: Since the USD/JPY is extremely bearish, we are looking forward to selling rallies on it this week. Yes, in the face of the current Bearish Confirmation Pattern in the chart, the only sensible thing is to seek a short trade when the price rallies in a downtrend. The price may reach the demand level at 100.50 this week.
EUR/JPY: The EUR may not be as weak as the USD, but the stamina in the Yen is more than what the currency could withstand. This cross dropped throughout last week and the bearish scenario on it has been confirmed. We are bearish for this week.
Source: www.instaforex.com
The bearish scenario on the USD/CHF remains valid, and the support level at 0.8700 can be easily tested.
EUR/USD: The bullish outlook on this pair is still extant, plus the resistance line at 1.3950 would easily be tested: even breached to the upside. The support line at 1.3800 is a long-term barrier to any pullbacks along the way. The bullish outlook is valid as long as the price remains above that support line. Our target at 1.4000 remains unchanged, for the price could reach that resistance line this week.
USD/CHF: The bearish scenario on the USD/CHF remains valid, and the support level at 0.8700 can be easily tested. The southward journey in the chart has invariably been tardy; thus it is unlikely the price would move that significantly this week. However, there is a possibility that the aforementioned support level can be breached to the downside.
GBP/USD: This market remains an equilibrium market and there could be a breakout this week or next week. When there is a breakout, it could lead to a serious directional move. The market is currently not attractive to swing traders, but intraday traders and scalpers can play it. The trick is to sell at the distribution territory at 1.6700 and buy at the accumulation territory at 1.6600.
USD/JPY: This currency trading instrument is bearish, and would remain so as long as the price is under the supply level at 102.00. The demand level at 101.50 is the short-term target, while the demand level at 101.00 is the medium-term target.
EUR/JPY: The ‘sell’ signal on this cross is valid: the current rally proffers an opportunity to go short in the market. The demand zone at 141.00 is the target for this week, though the price could go lower than that.
Source: Forex | Online Forex Trading | Currency Trading | Forex Broker
exactly, GBP/USD is great for scalpers now
The USD/JPY went bullish last week, closing at 102.25. For the bullish outlook not to become invalid this week, the price must stay above the demand level at 102.00.
EUR/USD: This is a bear market. The price fell last week, touching the support line at 1.3750; and from that point, the price bounced upwards by 50 pips, testing the resistance line at 1.3800. It is assumed that the bearish trend would continue, which could take the price below the aforementioned support line.
USD/CHF: This currency trading instrument went bullish last week, testing the resistance level at 0.8850, before getting corrected a little bit lower. The correction would be short-term in nature and it is not expected to go below the support level at 0.8800. The stance for this week is thus bullish.
GBP/USD: The price action on the Cable has resulted in a Bearish Confirmation Pattern and the market is expected to go further south this week. At the present, the market is trading below the distribution territory at 1.6500. While that distribution territory may be challenged seriously by the bulls, the price could end up far below it by the end of this week.
USD/JPY: The USD/JPY went bullish last week, closing at 102.25. For the bullish outlook not to become invalid this week, the price must stay above the demand level at 102.00. As long as the price stays above that demand level, long trades are sensible. But when the price crosses and closes below the demand level at 102.00, it would then be sensible to seek short trades.
EUR/JPY: This bias here is bearish. The price closed at 141.07 on Friday (March 21, 2014). The southward move is not yet significant, but it may become strong this week.
Source: www.instaforex.com
The Cable remains bearish, trading below the distribution territory at 1.6500.
EUR/USD: The southward outlook on the EUR/USD is currently in a serious jeopardy. The present rally in the chart may be a short-selling opportunity, as long as the price does not go further northward in a determined fashion. Should the price test the resistance line at 1.3900, the bearish outlook would be over.
USD/CHF: Yesterday, there was a serious challenge to the extant bullish bias in the market. As long as the market stays above the support level at 0.8800, it would be safe to assume that the price could go further upwards. With a renewed buying pressure, the market could eventually reach the resistance level at 0.8900.
GBP/USD: The market is consolidating right now, in the context of a downtrend. Yes, the Cable remains bearish, trading below the distribution territory at 1.6500. When the momentum thus returns to the market, it is more likely to be towards the downside. The price may reach the accumulation territory at 1.6450.
USD/JPY: The outlook on this pair at the beginning of the week is still the same. For the bullish outlook not to become valid this week, the price must stay above the demand level at 102.00. When the price is seen as trading below that demand level, it means it is time to seek short trades.
EUR/JPY: From last week up till now, the price has remained largely in an equilibrium zone. This is due to the fact that both the Euro and the Yen are strong: with neither gaining upper hand over the other. The price would either break above the supply level at 142.00 or below the demand level at 141.00, but the latter action is more likely.
Source: Forex | Online Forex Trading | Currency Trading | Forex Broker
Just_A_Thought : The area between the 50 SMA and the 100 SMA acted as a good support cloud for the GBP any break for this cloud we might see the GBP touches the 1.6275 Level then the 200 SMA . Swing trading between the two levels with stop loss on breaking the 50 or the 100 SMA
Since last week, the Cable has been bullish, and the target for this week is at the distribution territory at 1.6700.
EUR/USD: This remains a bear market in spite of its attempt to rally. The rally is simply a good shorting opportunity; for the price would simply go down to test the support line at 1.3700, which could be breached to the downside as the price trends further lower. Only bearish trades are advised on this market.
USD/CHF: The bullish signal on the USD/CHF is intact. Our target at the resistance level at 0.8900 was nearly hit last week. Right now, there is a minor pullback in the market, but the price would still go upward to test that resistance level. Should the resistance level be breached to the upside, the next target would be the resistance level at 0.8950.
GBP/USD: Since last week, the Cable has been bullish, and the target for this week is at the distribution territory at 1.6700. With continuation of the bullish pressure, the price could even go beyond our target: it could reach another distribution territory at 1.6750. Only long trades are advised for this week.
USD/JPY: This market has been bullish and the bullish bias may extend from now on till the latter part of April 2014. This fact does not rule out the possibility of some bearish corrections, but the corrections would be short-lived as the market goes further upwards.
EUR/JPY: This cross first moved lower last week, then the market rallied significant, closing at 141.36. This rally is strong enough to make the cross recover the loss it sustained last week. Any movement above the supply zone at 142.00 means the bullish bias is over.
Source: www.instaforex.com
The EUR/JPY cross has assumed a bullish bias for this week and it can possibly reach the supply zone at 143.00.
EUR/USD: This market is still bearish – irrespective of the rally going on it. However, it should be noted that the rally has put the extant bias in a serious jeopardy, and would render it useless completely in a situation in which the market goes above the resistance line at 1.3800.
USD/CHF: There is a vivid pullback in the price – a threat to the extant bullish outlook. However, it could not be deemed that the bias is over unless the price goes below the support level at 0.8800. Without this happening, it would be OK to see the current pullback as a possible opportunity to go long.
GBP/USD: In accordance with the signal that was formed last week, the GBP/USD remains bullish. There is an easy target at the distribution territory of 1.6700 (although there is a possibility that the target would even be exceeded). During the course of this, the accumulation territories at 1.6650 and 1.6600 could act as barriers to the any bearish pulls along the way.
USD/JPY: This is also a bull market which may hold out till the middle of April 2014. This is in accordance with some seasonally noticed pattern in this unique market, but it does not rule out the possibilities of occasional bearish corrections.
EUR/JPY: The EUR/JPY cross has assumed a bullish bias for this week and it can possibly reach the supply zone at 143.00. The Bullish Confirmation Pattern in the chart shows that there is a great possibility that the momentum in the market would help it to go further northwards.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by Azeez Mustapha | Harriman House
The USD/CHF tested the resistance level at 0.8950 last week. It would test that resistance level again this week.
EUR/USD: In spite of the adamancy of the EUR, this pair remains a bear market. Yes, the outlook is bearish and the market is expected to continue going lower this week. The support line at 1.3700 has been challenged vigorously and it is almost giving way to the bears. The main target for this week is at the support line of 1.3600.
USD/CHF: The USD/CHF tested the resistance level at 0.8950 last week. It would test that resistance level again this week. There is a Bullish Confirmation Pattern in the chart, and thus it is normal to expect that, with an increase in the buying pressure, the price would go further upwards.
GBP/USD: Last week, the Cable was largely bearish. This constant inability to trend higher has already resulted in a bearish signal in the chart. One may want to seek short trades as the price is poised to reach the accumulation territory at 1.6550. Should that accumulation territory be breached to the downside, the next target would be the accumulation territory at 1.6500.
USD/JPY: There has been a sharp reversal on the USD/JPY, though the long-term bias is bullish. From the supply level at 104.00, the price dropped by over 80 pips, closing at 103.24 on Friday (April 4, 2014). For the bullish bias to continue to make sense, the reversal must be contained at the demand level of 103.00.
EUR/JPY: The weakness of the EUR is affecting the movement on the cross – which is showing some sign of weakness. The price must stay above the demand zone at 141.00. Otherwise, the tide would turn southward.
Source: www.instaforex.com
The USD/JPY has been able to break the price level at 103.00 to the downside, thus forming a bearish indication.
EUR/USD: The price has bounced upwards from the support line at 1.3700 (after it was tested rigorously last week and early this week). The upward bounce is not strong enough to render the dominant bearish bias useless, unless the price crosses the resistance line at 1.3800 to the upside and trade further higher. In effect, that resistance line is the stop loss area for short sellers. The price may go downwards again to test the support line at 1.3700.
USD/CHF: There is a bearish correction on this market, just as there is a bullish correction on the EUR/USD. Also, the bearish correction is not strong enough to pose a morbid threat to the extant bullish bias: it simply appears as a way to buy long when the price is on sale, and in a context of an uptrend. Further counter-trend move may be contained at the support level of 0.8850.
GBP/USD: The rally on the Cable is posing as a threat to the bears’ interest. The bullish determination could even become stronger when the price crosses the distribution territory at 1.6650 to the upside.
USD/JPY: The USD/JPY has been able to break the price level at 103.00 to the downside, thus forming a bearish indication. It would be advisable to seek short trades, for the price could go on to challenge the demand level at 102.50.
EUR/JPY: The constant inability of the price in this market to go upwards has resulted in a Bearish Confirmation Pattern in the chart. It would be very easy for the price to test the demand zone at 141.00.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by Azeez Mustapha | Harriman House
The USD/CHF is weak and it is currently challenging the support level at 0.8750. Once the support level has been overcome, the price would go to the next target at 0.8700.
EUR/USD: This currency trading instrument closed at 1.3884 on Friday, April 11, 2014. It closed on a bullish note, which means that the price was bullish last week. This bias is also expected to continue this week. The resistance line at 1.3900 is currently under siege, but the chances that the price would breach it to the upside are very high.
USD/CHF: The USD/CHF is weak and it is currently challenging the support level at 0.8750. Once the support level has been overcome, the price would go to the next target at 0.8700. The bearish outlook in the chart ensures that the selling pressure may continue as the pair weakens further.
GBP/USD: The Cable was bullish last week, though it gave up some of its gains. From the distribution territory at 1.6800, the bullish force in the market was rejected and it was corrected downwards by up to 70 pips. The price is now below the distribution territory at 1.6750, but it may challenge that territory again, break it to the upside, and end up closing above it.
USD/JPY: The USD/JPY tanked after testing the supply level at 104.00 and having dropped by over 250 pips, testing the demand level at 101.50. It seems that further dip is being halted but the price may breach the demand level to the downside.
EUR/JPY: This is also a bear market, though the weakness is not as strong as that of the USD/JPY. It may be possible that the price would go upwards, but it would be sensible to think the outlook remains bearish as long as the price stays below the supply zone at 141.50.
Source: www.instaforex.com
On some currency trading instruments, there have been gaps at the open of the markets this week. This means there would be serious movements in the markets very soon.
EUR/USD: On some currency trading instruments, there have been gaps at the open of the markets this week. This means there would be serious movements in the markets very soon. The gap-down on the EURUSD was followed by a southward attempt. Although the bullish outlook is still valid, it may be put in jeopardy if the gap fails to close.
USD/CHF: In contrast to what happened on the EUR/USD, this market experienced a gap-up. The gap should be closed normally after this, but the price is rather rallying, testing the resistance line at 0.8800. Should the resistance line get broken to the upside, the ensuing bullish momentum could result in the end of the bearish outlook in the market. For the bearish outlook to continue to be relevant, the price should go back to test the support level at 0.8750.
GBP/USD: From the distribution territory at 1.6800 this pair has gotten corrected towards the accumulation territory at 1.6700 (where further bearish run seems to have been rejected). The price is trying to rally again, and it may go on to test the aforementioned distribution territory.
USD/JPY: This pair is a bear market and the current short-term rally may be halted at the supply level of 102.00. From that point, it is possible that the price could drop.
EUR/JPY: The EUR/JPY cross has met a serious challenge at the demand zone of 140.50. The demand zone must be crossed to the downside, for the bearish outlook to continue. Otherwise, the price could rally significantly enough to threaten the extant bearish outlook.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by Azeez Mustapha | Harriman House
The EUR/JPY cross has succeeded in rejecting further bearish movement on it. Right now, the bullish determination in the market has resulted in a ‘buy’ signal.
EUR/USD: This pair has been a flat market for the most of the week, although it appears as if the price would go upwards when momentum returns to the market. This is possible because there is still some bullish indication in the chart, especially as far as the price action is concerned.
USD/CHF: In a rare formation (though not a surprise) the USD/CHF has been able to exude some bullish stance this week. The gradual and steady rally has finally resulted in a ‘buy’ signal as a Bullish Confirmation Pattern returns to the market. Should the kind of price action we see here continue, the price would soon be trading above the resistance level at 0.8850.
GBP/USD: This is a bull market, and any bearish retracement on it – as it is currently happening – is seen as an opportunity to open another long order with the thought that the price would resume its upwards journey. Further bearish pulls might be contained at the accumulation territories of 1.6750 and 1.6700.
USD/JPY: There is now a ‘buy’ signal here. On the 4-hour chart, the price has crossed the EMA 56 to the upside and closed above it. The RSI period 14 is also clearly above the level 50. Long trades ought to be sought now.
EUR/JPY: The EUR/JPY cross has succeeded in rejecting further bearish movement on it. Right now, the bullish determination in the market has resulted in a ‘buy’ signal. Our target is now placed at the supply zone of 142.00, but it may even be possible for the price to break the supply zone as it goes further up.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by Azeez Mustapha | Harriman House
The USDCHF has already generated a bullish signal: the price would easily test the resistance level at 0.8850.
EUR/USD: It is still safe to call this pair a bull market. As long as the price is above the support line at 1.3800, the bullish outlook is valid. Any movement below that support line would mean a serious threat to the bullish outlook. It would also mean that long trades are no longer sensible. For the bullish outlook to continue, the price needs to go upwards towards the resistance lines at 1.3850 and 1.3900, especially when there is a break out of the current equilibrium zone.
USD/CHF: The USDCHF has already generated a bullish signal: the price would easily test the resistance level at 0.8850. There is even a possibility that the price may go beyond that target, especially with an increase in the buying pressure. So, it would not be a surprise when the price also reaches another resistance level at 0.8900.
GBP/USD: There is still a Bullish Confirmation Pattern on this currency trading instrument. The upward movement in the price has been challenged at the distribution territory of 1.6800, but the market looks determined to break that distribution territory to the upside. The market would succeed in doing this: the probability of doing it is very high. So we may be targeting another distribution territory at 1.6900 this week.
USD/JPY: The signal in the chart is a ‘buy’ signal. The indicators on the 4-hour chart confirm this. The supply level at 102.50 has already been tested, and it could be breached as the price goes further north, towards the supply level at 103.00.
EUR/JPY: This cross closed at 141.41 last week; with some bullish determination. We would like to look for long orders this week, putting initial target at the supply zone of 142.00.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by Azeez Mustapha | Harriman House
The perpetual weakness on the USD/JPY has resulted in a ‘sell’ signal. This week, the price may reach the demand level at 101.50.
EUR/USD: This market traded in a range last week, but the bulls are now gaining upper hands. The price is now showing some bullish determination, but the determination would be clearer when the price closes above the resistance line at 1.3850. Should this become possible, the target for this week would be at the resistance line of 1.3900.
USD/CHF: When the EUR/USD goes upwards, the USD/CHF would have nowhere to go but south. In fact, there has been an initial bearish indication in the chart – which would become very sensible when the price closes below the support level at 0.8800. Should this become possible, the target for the week would be at the support level at 0.8750.
GBP/USD: The Cable is still bullish and it may go further upwards this week, for this is what is expected to follow the recent consolidation in the market. The price needs to stay cleanly above the market territory at 1.6800, while it tries to go towards the distribution territory at 1.6900.
USD/JPY: The perpetual weakness on the USD/JPY has resulted in a ‘sell’ signal. This week, the price may reach the demand level at 101.50. There are supply levels at 102.50 and 103.00. The supply levels would act as barriers to sudden rallies that could threaten the novel bearish signal.
EUR/JPY: This market is not yet attractive; so it is OK to stay aside until there is a directional movement. The most probable direction is southward, especially when the price goes below the demand zone at 141.00.
Source: www.instaforex.com
The movements on the majors are unstable and short-lived. Now, the markets need to be handled with tact for optimal results.
EUR/USD: There is a bullish signal on this pair, as it is shown by the Bullish Confirmation Pattern in the chart. Intraday traders may want to open some long trades and target the resistance line at 1.3900. Meanwhile, the support line at 1.3800 should act as a barrier to any possible strong correction.
USD/CHF: The USD/CHF has a bearish signal on it – though the market is volatile. A short trade is recommended, with target at the support level of 0.8750. The resistance level at 0.8850 could be a challenge to rallies that may render the current bearish outlook useless.
GBP/USD: This is a consolidating market, but the consolidation is towards the upside because the price is making some attempt to trend northwards. The distribution territory at 1.6850 has been tested a few times. Should the price succeed in breaking above it (and closing above it), the next target would be the distribution territory at 1.6900.
USD/JPY: The movements on the majors are unstable and short-lived. Now, the markets need to be handled with tact for optimal results. The USD/JPY is no exception, for it now tends to have short-lived signals on it. So approaches that are particularly creative would be helpful here. The current signal is ‘buy’ and the market could test the supply level at 103.00.
EUR/JPY: At the present, there is also a ‘buy’ signal on the pair. The signal has been confirmed, but the price needs to test the supply zone at 142.50 before it can be termed as being significant.
Source: www.instaforex.com
The Cable remains a bull market. The distribution territory at 1.6900 would soon be breached to the upside.
EUR/USD: This is a bull market in spite of the volatile movement that was experienced last Friday. The support lines at 1.3850 and 1.3800 would proffer some difficulties for the bears, especially when they try to push the price downwards. The target for this week is at the resistance line of 1.3900.
USD/CHF: The USD/CHF is a bear market, plus the volatile movement that occurred on Friday did not succeed in overriding the bearish outlook. The USD/CHF is below the resistance level at 0.8800, going downwards. The first target for this week is at the support level at 0.8750. When the price succeeds in breaching the support level to the downside, it may then target another support level at 0.8700.
GBP/USD: The Cable remains a bull market. The distribution territory at 1.6900 would soon be breached to the upside. This distribution territory has been challenged before the current minor pullback which has failed to take the price below the accumulation territory at 1.6850.
USD/JPY: This currency trading instrument has been difficult to trade in recent times. Swing and position traders may need to wait for the momentum that is expected this week, before they take a position. The dominant bias in the market is currently neutral. The price broke above the supply level at 102.50, testing the supply level at 103.00. This has proven to be a false breakout because the price was unable to stay above the supply level at 102.50. It needs to break above this supply level and remain above it or below the demand level at 102.00 and remain below it before we can have a sustained breakout.
EUR/JPY: This market has been able to maintain the bullish bias on it. The bullish bias is not yet strong, but it would become noteworthy when the price breaks the supply zone at 142.00 to the upside or the demand zone at 141.50 to the downside.
source: www.instaforex.com
The EUR/USD is bullish and the pair would soon test the resistance line at 1.3900.
EUR/USD: Here, the market is volatile. It is not uncommon for the price to experience some pullbacks, only to go upwards again in tandem with the dominant bias. A good example of this fact happened last Friday. The EUR/USD is bullish and the pair would soon test the resistance line at 1.3900.
USD/CHF: This is a market that goes in opposition to what the EUR/USD is doing. It is going downwards, trading below the resistance level at 0.8800. The next target is at the support level of 0.8750. Should the price succeed in breaching the support level to the downside, another support level at 0.8700 would be targeted.
GBP/USD: The Cable is also bullish, having gone upwards since the beginning of April 2014. The distribution territory at 1.6900 has been tested several times. It would be tested again and possibly get breached to the upside. There is an immediate accumulation territory at 1.6850.
USD/JPY: This currency trading instrument has been proving difficult for some time now. Bullish and bearish indications have been short-lived, and therefore, short-term targets could be employed. At the present, the price is trying to bounce upwards after testing the demand level at 102.00 (and failing to close below it). The supply level at 102.50 needs to be breached to the upside before there could be an established northward scenario.
EUR/JPY: In spite of accessional pullbacks, this cross has been able to maintain the bullish bias on it. Bearish pulls have so far been rejected: the price could reach the supply zone at 142.00 and break it to the upside.
Source: www.instaforex.com
Eye-opening trading lessons: Lessons From Expert Traders by | Harriman House
From a low of 0.8702, the USD/CHF shot upwards significantly. The pair trended upwards by over 160 pips within 2 days. This is the strongest upward move since early April 2014.
EUR/USD: As a result of exponential weakness in the Euro, this currency trading instrument has formed a Bearish Confirmation Pattern and the price is supposed to continue to nosedive this week. This is true of all other EUR pairs. From a high of 1.3993, the price dropped by over 240 pips. This could be a beginning of another long-term downtrend: the price could reach the support line at 1.3700 this week.
USD/CHF: From a low of 0.8702, the USD/CHF shot upwards significantly. The pair trended upwards by over 160 pips within 2 days. This is the strongest upward move since early April 2014. Needless to say, the established bias is now bullish and it is expected to continue this week. Our targets are set at the resistance levels of 0.8900 and 0.8950. In the course of this, the support level at 0.8800 ought to act as a barrier to possible pullbacks along the way.
GBP/USD: This pair has also dropped in a serious mode. This is possible because of the perceived strength in the USD. The accumulation territory at 1.6850 has been challenged and the price needs to go below that territory in order for the bearish bias to get confirmed.
USD/JPY: On Friday, there was no significant movement in this market. The outlook remains bearish, but the price needs to breach the demand level at 101.50 to the downside, so that the bias can continue to be valid.
EUR/JPY: The price action on this currency trading instrument has resulted in an established bearish outlook. The price could reach the demand zone at 139.00 this week.
Source: www.instaforex.com
