26 May 2015
Outlook for FX Majors: Bullish on USD/JPY – Littlefish FX
FXStreet (Barcelona) - Analysts at Littlefish FX give the outlook for Forex majors, maintaining a bullish view on USD/JPY and USD/CAD, while retaining a bearish bias on EUR/USD and GBP/USD.
Key Quotes
“EUR/USD: Decline extends while 1.1050/60 caps upside expect test of 1.08 equality corrective target.”
“GBP/USD: Ascending trendline support at the 1.55 eroded. while this area now acts as resistance expect a test of 1.53 equality corrective target.”
“USD/JPY: 122 offers have been filled and bulls now focus on 124 target. Below 121 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 eroded focus shifts towards a retest of previous 124 support as potential resistance to stem the upside advance.”
“AUD/USD: .7850 support being eroded a close below .78 invalidates bullish bias and bears target .77 initially en route to .7550”
Key Quotes
“EUR/USD: Decline extends while 1.1050/60 caps upside expect test of 1.08 equality corrective target.”
“GBP/USD: Ascending trendline support at the 1.55 eroded. while this area now acts as resistance expect a test of 1.53 equality corrective target.”
“USD/JPY: 122 offers have been filled and bulls now focus on 124 target. Below 121 concerns near term bullish bias.”
“USD/CAD: Descending trendline resistance at 123 eroded focus shifts towards a retest of previous 124 support as potential resistance to stem the upside advance.”
“AUD/USD: .7850 support being eroded a close below .78 invalidates bullish bias and bears target .77 initially en route to .7550”