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USDJPY 30 MIN CHART – Correcting but still below the latest breakdown level
A failure to decisively break below 146.50 leaves the range to 148. On the other side, only 148+ would deflect risk on the downside.
As I noted, 147.61 was a breakdown level so the one blocking a shift in risk back to 148. So far the rebound has paused just below it.
Intra-day levels are in the chart.
NOTE
USDJPY bounced after BoJ Gov Ueda, testifying, gave no hint of a rate hike at next week’s meeting. He said we will see what data shows later in the week.
If trading USDJPY, do it intra-day as one off-hand comment overnight can send this pair up or down as market awaits next week’s BoJ decision.
US CPI next on deck.
GBPUSD 4 HOUR Chart
As noted yesterday, 1.28 is the only level to watch as it will dictate whether GBPUSD corrects further. Note the 2 blue AT lines whuch indicate a potential change in direction that played out.
This chart shows little until 1.2722 so expect the 1.2750-80 zone to be a key one as only a break below the lower end would shift thf focus from 1.28
NOTE
UK labor report showed a slight moderation
EURGBP bounce gave a clue to GBPUSD vulnerable downside
Bew ball game after US CPI later on
USDCHF Analysis: Breakdown Below Support Level and Price Channel Dynamics
USDCHF has recently breached the support level at 0.8742 and remains within a descending price channel on the 4-hour chart.
While the price remains within this channel, there is potential for a further downward movement in the upcoming days, with the next target area likely around 0.8700.
A critical resistance level to watch is situated at 0.8794. A successful breakout above this level would suggest that the downward movement from 0.8892 may have concluded at 0.8729, potentially paving the way for another upward move towards 0.8900.
USDJPY 4H Chart – Fibbo Fans
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