Tue, 18th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD was corrected higher yesterday. The pair topped at 1.2742 but closed lower at 1.2636. This fact force my model to go mixed with neutral bias in nearest term, but still with downside bias in longer term. Only a consistent move above 1.2750 area would be a violation to the bearish scenario. Immediate support is seen at 1.2600. A break to the downside from that level could trigger further bearish momentum. CCI about to cross -100 line down on hourly chart suggesting a potential downside pressures.

EURUSD Daily Supports and Resistances:

• S1= 1.2518
• S2= 1.2400
• S3= 1.2288
• R1= 1.2748
• R2= 1.2860
• R3= 1.2978

GBPUSD Outlook
The Sterling recovered against Greenback yesterday. The pair topped at 1.5082 and closed at 1.4951. Daily CCI in oversold area and heading up suggesting a potential upside pressures. My model is mixed with neutral bias. Immediate resistance is seen at 1.5062. A break to the upside from that level could trigger further bullish momentum towards 1.5262 area. Initial support at 1.4910 followed by 1.4790.

GBPUSD Daily Supports and Resistances:

• S1= 1.4710
• S2= 1.4470
• S3= 1.4284
• R1= 1.5136
• R2= 1.5322
• R3= 1.5562

USDJPY Outlook
The USDJPY made indecisive movement by opened and closed at almost the same price (96.28 and 96.25), formed a Doji formation on daily chart. We have a triangle formation on hourly chart as the price seem to be in consolidation. Immediate resistance is seen at 97.05. A break to the upside from that level could trigger further bullish corrections. Initial support at 96.20. A break to the downside from that level could trigger further bearish momentum.

USDJPY Daily Supports and Resistances:

• S1= 95.61
• S2= 94.97
• S3= 94.01
• R1= 97.21
• R2= 98.17
• R3= 98.81

USDCHF Outlook
The USDCHF didn’t make a significant movement yesterday. The pair seem to move in ranging area of 1.2000 and 1.1880. A break from that ranging area should give us a clearer direction. My model is mixed with neutral bias. CCI about to cross 100 line down on hourly chart suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

• S1= 1.1915
• S2= 1.1841
• S3= 1.1796
• R1= 1.2034
• R2= 1.2079
• R3= 1.2153

Have a great day!

Mon, 17th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
After corrected higher on Thursday, the EURUSD continued it’s bearish scenario on Friday. The pair bottomed at 1.2571 and closed at 1.2605. The bias is still on the downside, with 1.2333 as the target. Immediate resistance is seen at 1.2650. CCI about to cross -100 line down on daily chart suggesting a potential downside pressures.

EURUSD Daily Supports and Resistances:

• S1= 1.2508
• S2= 1.2411
• S3= 1.2252
• R1= 1.2764
• R2= 1.2923
• R3= 1.3020

GBPUSD Outlook
The GBPUSD continued it’s bearish scenario on Friday. The pair bottomed at 1.4655 and closed at 1.4737. The bias should stay bearish. From a long term point of view on monthly chart, the pair is now targeting 1.4576 area (61.8% Fib Retracement from 1.0463 to 2.1161). Immediate resistance is seen at 1.4805. CCI heading down towards -100 line on 4h chart suggesting a potential downside pressures.

GBPUSD Daily Supports and Resistances:

• S1= 1.4609
• S2= 1.4481
• S3= 1.4308
• R1= 1.4910
• R2= 1.5083
• R3= 1.5211

USDJPY Outlook
After corrected higher on Thursday, the USDJPY was traded lower on Friday. The pair bottomed at 96.08 but closed higher at 97.07. My model is mixed with neutral bias in nearest term but with downside bias in longer term. Immediate resistance is seen at 97.40 followed by 98.70. Initial support at 95.15. A break to the downside from that level could trigger further bearish momentum. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

• S1= 96.08
• S2= 95.09
• S3= 94.10
• R1= 98.06
• R2= 99.05
• R3= 100.04

USDCHF Outlook
The USDCHF continued it’s bullish scenario on Friday. The pair topped at 1.1990 and closed at 1.1950. My model is mixed with neutral bias in nearest term, but remains with upside bias in longer term. Immediate support is seen at 1.1950 followed  by 1.1800. Initial resistance at 1.2100. CCI about to cross 100 line down on hourly chart suggesting a potential downside corrections.

USDCHF Daily Supports and Resistances:

• S1= 1.1862
• S2= 1.1775
• S3= 1.1711
• R1= 1.2013
• R2= 1.2077
• R3= 1.2164

Have a great day!

Fri, 14th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
Yesterday the CCI bullish divergence gave us a valid warning. The pair was corrected higher, topped at 1.2857 and closed at 1.2787. But remember that we are still intact with the bearish scenario in longer term so we must see this bullish momentum just as a correctional movement. My model remains mixed with downside bias. Immediate resistance is seen at 1.2850 followed by 1.2930. Initial support at 1.2650.  A break to the downside from that level could give us further bearish momentum towards 1.2450 and 1.2333 area. CCI in overbought area and heading down in 4h chart, suggesting a potential downside pressures.

EURUSD Daily Supports and Resistances:

* S1= 1.2498
* S2= 1.2209
* S3= 1.2030
* R1= 1.2966
* R2= 1.3145
* R3= 1.3434

GBPUSD Outlook
The GBPUSD attempted to push lower yesterday. The pair hit the long term bearish target at 1.4607, even further bottomed at 1.4557. This fact should keep the bearish scenario intact. However, we have a bullish CCI divergence warning between CCI and actual price on 4h chart, suggesting a potential upside corrections. My model is mixed with neutral bias in nearest term, but we are still intact with the bearish scenario in longer term. Immediate resistance is seen at 1.4990. Initial support at 1.4607. A consistent move below that level should trigger further bearish momentum towards 1.4400 area. CCI just cross -100 line up on 4h chart suggesting a potential upside pressures.

GBPUSD Daily Supports and Resistances:

* S1= 1.4593
* S2= 1.4358
* S3= 1.4159
* R1= 1.5027
* R2= 1.5226
* R3= 1.5461

USDJPY Outlook
The USDJPY was corrected higher. The pair topped at 98.26 and closed at 97.71. From a longer term of view, as long as the pair stay below 98.50, we are still intact with bearish scenario. My model is mixed with neutral bias in nearest term, but with downside bias in longer term. Immediate support is seen at 96.50. Initial resistance at 98.26 (yesterday’s high). CCI in neutral area both on 4h and daily chart, but just cross 100 line down on hourly chart suggesting a potential downside pressures.

USDJPY Daily Supports and Resistances:

* S1= 95.46
* S2= 93.21
* S3= 91.81
* R1= 99.11
* R2= 100.51
* R3= 102.76

USDCHF Outlook
The USDCHF made indecisive movement yesterday by opened and closed at almost the same price (1.1874 and 1.1876) and made another Doji on daily chart. It looks like further bullish momentum is very limited now. My model is mixed with neutral bias in nearest term but we are still in bullish scenario in longer term. Immediate support is seen at 1.1800 followed by 1.1710. Initial resistance at 1.2000. CCI about to cross 100 line down on daily chart suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

* S1= 1.1800
* S2= 1.1724
* S3= 1.1624
* R1= 1.1976
* R2= 1.2076
* R3= 1.2152

Have a great day !

Thu, 13th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD attempted to pushed higher yesterday. The pair topped at 1.2631 but further upside correction was rejected as the pair whipsawed to the downside, hit the bottom at 1.2436 and closed at 1.2454. The bearish scenario should still intact. However we have a bullish divergence warning between CCI and actual price on hourly and 4h suggesting another potential upside corrections attempt. My model is mixed with neutral bias. Immediate resistance is seen at 1.2585 followed by 1.2630 (yesterday’s high). Initial support at 1.2400 followed by 1.2333.

EURUSD Daily Supports and Resistances:

* S1= 1.2383
* S2= 1.2312
* S3= 1.2188
* R1= 1.2578
* R2= 1.2702
* R3= 1.2773

GBPUSD Outlook
The Sterling slumped against Greenback yesterday. The pair bottomed at 1.4830 and closed at 1.4853.  From a longer term of view the pair is now targeting 1.4607. However, early today in Asian session the pair was corrected to the upside, traded around 1.4920 at the time I wrote this comment. My model is mixed with neutral bias in nearest term but still with downside bias in longer term. Immediate resistance is seen at 1.4990 followed by 1.5075. CCI just cross -100 line up on hourly chart suggesting a potential upside presssures.

GBPUSD Daily Supports and Resistances:

* S1= 1.4628
* S2= 1.4403
* S3= 1.3976
* R1= 1.5280
* R2= 1.5707
* R3= 1.5932

USDJPY Outlook
The USDJPY continued it’s bearish scenario yesterday. The pair bottomed at 94.46 and closed at 94.68. However early today in Asian session the pair was corrected higher, traded around 95.55 at the time I wrote this comment. CCI in oversold area about to cross -100 line up on daily chart suggesting a potential upside correctional movement. My model is mixed with upside bias. Immediate support is seen at 94.46 (yesterday’s low). Initial resistance at 96.50.

USDJPY Daily Supports and Resistances:

* S1= 93.40
* S2= 92.12
* S3= 89.79
* R1= 97.01
* R2= 99.34
* R3= 100.62

USDCHF Outlook
Yesterday the USDCHF made indecisive movement by opened and closed at almost the same price (1.1875 and 1.1873) formed a Doji candlestick formation on daily chart. My model is mixed with neutral bias in nearest term, but remains with upside bias in longer term. Immediate support is seen at 1.1820 followed by 1.1710. Initial resistance is seen at 1.1900 followed by 1.2000. CCI heading up towards 100 line on 4h chart suggesting a potential upside pressures.

USDCHF Daily Supports and Resistances:

* S1= 1.1790
* S2= 1.1707
* S3= 1.1655
* R1= 1.1925
* R2= 1.1977
* R3= 1.2060

Have a great day !

Wed, 12th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
After breakout to the downside from the triangle formation, the EURUSD continued it’s bearish scenario yesterday. The pair bottomed at 1.2505 and closed at 1.2511. Early today in Asian market the pair was corrected higher, traded around 1.2580 at the time I wrote this comment.The main bias should stay bearish targeting 1.2400 then 1.2333 area. CCI just cross -100 line down on daily chart suggesting a potential bearish view. However, CCI in oversold area and heading up both on hourly and 4h chart so watch out for an upside corrections testing 1.2650 resistance level.

EURUSD Daily Supports and Resistances:

* S1= 1.2410
* S2= 1.2310
* S3= 1.2115
* R1= 1.2705
* R2= 1.2900
* R3= 1.3000

GBPUSD Outlook
The GBPUSD also continued it’s bearish momentum yesterday. The pair bottomed at 1.5360 and closed at 1.5378. This fact should keep the bearish scenario intact, testing 1.5262 again. CCI just cross -100 line down on daily chart suggesting a potential bearish view. However CCI already in oversold area and heading up on 4h chart so we might have some upside corrections testing 1.5486 and 1.5602 resistance levels.

GBPUSD Daily Supports and Resistances:

* S1= 1.5258
* S2= 1.5138
* S3= 1.4916
* R1= 1.5600
* R2= 1.5822
* R3= 1.5942

USDJPY Outlook
The USDJPY was traded softly lower yesterday. The pair bottomed at 97.30 and closed at 97.60. Early today in Asian market the pair attempted to push lower but further downside momentum was rejected and the bearish power seemed limited . My model is mixed with upside bias in nearest term but neutral in longer term. Immediate support is seen at 97.15. Initial resistance at 98.30. CCI just cross -100 line up on hourly chart suggesting a potential upside pressures.

USDJPY Daily Supports and Resistances:

* S1= 97.17
* S2= 96.74
* S3= 96.18
* R1= 98.16
* R2= 98.72
* R3= 99.15

USDCHF Outlook
The USDCHF continued it’s bullish scenario yesterday. The pair topped at 1.1876 and closed at 1.1874. Early today in Asian session the pair was corrected higher, traded around 1.1835 at the time I wrote this comment. My model remains mixed with upside bias. However CCI already in overbought area and heading down on 4h chart suggesting a potential downside pressures. Immediate support is seen at 1.1790 followed by 1.1710. Initial resistance at 1.1900 followed by 1.2000.

USDCHF Daily Supports and Resistances:

* S1= 1.1772
* S2= 1.1670
* S3= 1.1618
* R1= 1.1926
* R2= 1.1978
* R3= 1.2080

Have a great day !

Tue, 11th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD attempted to push higher yesterday. the pair topped at 1.2926, but further upside scenario was rejected as the pair whipsawed to the downside, hit the bottom at 1.2718 and closed at 1.2750.
This fact should keep the bearish scenario intact. My model goes mixed with downside bias. Early today in Asian session the pair continued to push lower, traded around 1.2700 at the time I wrote this comment. The pair also seemed to make a breakout to the downside of triangle formation on 4h chart, which should support the bearish view. Immediate support is seen at 1.2666. A break to the downside from that support level should trigger further bearish momentum towards 1.2500 area. Initial resistance at 1.2790 followed by 1.2850. CCI just cross -100 line down on hourly chart and about to cross -100 line on 4h chart suggesting a potential downside pressures.

EURUSD Daily Supports and Resistances:

* S1= 1.2670
* S2= 1.2590
* S3= 1.2462
* R1= 1.2878
* R2= 1.3006
* R3= 1.3086

GBPUSD Outlook
The GBPUSD continued it’s bearish scenario yesterday. The pair bottomed at 1.5573 and closed at 1.5625. The bias should stay bearish. Immediate resistance is seen at 1.5670. Initial support at 1.5550. A break to the downside from that support should trigger further bearish momentum towards 1.5400 area. CCI just cross -100 line down on 4h chart suggesting a potential downside pressures.

GBPUSD Daily Supports and Resistances:

* S1= 1.5504
* S2= 1.5383
* S3= 1.5194
* R1= 1.5814
* R2= 1.6003
* R3= 1.6124

USDJPY Outlook
The USDJPY failed to continued it’s bullish momentum yesterday. The pair attempted to push higher, topped at 99.48 but further upside movement was rejected as the pair whipsawed to the downside bottomed at  97.60 and closed at 98.00. This fact forrce my model to mixed with neutral bias. Immediate support is seen at 97.30 followed by 96.60. Initial resistance at 98.70. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

* S1= 97.24
* S2= 96.48
* S3= 95.36
* R1= 99.12
* R2= 100.24
* R3= 101.00

USDCHF Outlook
After made indecisive movement on Friday, the USDCHF was traded higher yesterday. The pair topped at 1.1801 and closed at 1.1783. Early today in Asian session thye pair continued to push higher, traded around 1.1820 at the time I wrote this comment. My model is mixed with upside bias. Immediate support is seen at 1.1770 followed by 1.1710. Initial resistance at 1.1900. However CCI already in overbought area in all 3 time frames (hourly, 4h, daily) so watch out for a minor downside corrections.

USDCHF Daily Supports and Resistances:

* S1= 1.1729
* S2= 1.1675
* S3= 1.1639
* R1= 1.1819
* R2= 1.1855
* R3= 1.1909

Have a great day!

Mon, 10th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
After a limited bullish momentum on Friday, the EURUSD was traded higher early today in Asian session, traded around 1.2860 at the time I wrote this comment. We had about 100 pips gap. From a longer term of view, as long as the pair stay below 1.3200, technically the bias is still bearish. My model is mixed with neutral bias. Immediate resistance is seen at 1.2930 followed by 1.3050. Initial support at 1.2783 followed by 1.2666. CCI in neutral area both on 4h and daily chart.

EURUSD Daily Supports and Resistances:

• S1= 1.2628
• S2= 1.2541
• S3= 1.2430
• R1= 1.2826
• R2= 1.2937
• R3= 1.3024

GBPUSD Outlook
Similar to EURUSD, the GBPUSD also traded higher this morning in Asian session and we also had more than 100 pips gap. However, from a longer perspective, as long as the pair stay below 1.6408, I think we are still in bearish scenario. My model goes mixed with neutral bias. Immediate resistance is seen at 1.5940 followed by 1.6050. Initial support at 1.5725 followed by 1.5590. CCI in neutral area on daily chart.

GBPUSD Daily Supports and Resistances:

• S1= 1.5492
• S2= 1.5342
• S3= 1.5150
• R1= 1.5834
• R2= 1.6026
• R3= 1.6176

USDJPY Outlook
The USDJPY failed to continued it’s bearish momentum on Friday. The pair topped at 98.68 and closed at 98.23. The bearish channel both on hourly and 4h chart is violated to the upside. This fact force my model to mixed with upside bias. Immediate support is seen at 98.50. Initial resistance at 99.50. CCI heading up towards 100 line on 4h chart suggesting a potential upside pressures.

USDJPY Daily Supports and Resistances:

• S1= 96.94
• S2= 95.66
• S3= 94.79
• R1= 99.09
• R2= 99.96
• R3= 101.24

USDCHF Outlook
The USDCHF made indecisive movement on Friday by opened and closed at almost the same price (1.1789 and 1.1784) However early today in Asian session the pair was traded lower around 1.1740 at the time I wrote this comment. My model is mixed with neutral bias. Immediate resistance is seen at 1.1800. Initial support at 1.1680 followed by 1.1590. CCI in overbought area and heading down on daily chart suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

• S1= 1.1709
• S2= 1.1635
• S3= 1.1592
• R1= 1.1826
• R2= 1.1869
• R3= 1.1943

Have a great day!

Fri, 07th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.2675 and closed at 1.2678. The 1.2630 level could be a key level at this phase as a break to the downside could trigger further bearish momentum and technically  ready to set up another journey heading for 1.2333 once again. My model remains mixed with downside bias. CCI about to cross -100 line down on 4h chart and heading down towards -100 line on daily chart suggesting a potential downside pressures. However CCI about to cross -100 line up on hourly chart, suggesting a potential minor upside corrections testing 1.2750 resistance level. Be patient. Eyes on US NFP data today.

EURUSD Daily Supports and Resistances:

• S1= 1.2584
• S2= 1.2490
• S3= 1.2305
• R1= 1.2863
• R2= 1.3048
• R3= 1.3142

GBPUSD Outlook
The GBPUSD also continued it’s bearish momentum yesterday. The pair bottomed at 1.5558 and closed at 1.5569. It looks like the pair is in a strong bearish pressures. My model goes short targeting 1.5400. CCI about to cross -100 line down on daily chart suggesting a potential bearish view. However, hourly CCI about to cross -100 line up so watch out for a minor upside corrections testing 1.5640 resistance level. Be patient. Eyes on US NFP data today.

GBPUSD Daily Supports and Resistances:

• S1= 1.5404
• S2= 1.5240
• S3= 1.4922
• R1= 1.5886
• R2= 1.6204
• R3= 1.6368

USDJPY Outlook
The USDJPY was traded softly weaker yesterday. The pair bottomed at 97.38 and closed at 97.46. Early today in Asian session the pair continued to push lower, traded around 97.05 at the time I wrote this comment. We have a valid bearish channel on hourly chart. My model remains mixed with downside bias. Immediate resistance is seen at 97.50. Initial support at 96.30. CCI heading down towards -100 line on daily chart suggesting a potential downside pressures.

USDJPY Daily Supports and Resistances:

• S1= 97.00
• S2= 96.54
• S3= 95.71
• R1= 98.29
• R2= 99.12
• R3= 99.58

USDCHF Outlook
The USDCHF failed to maintain it’s bearish momentum yesterday. The pair topped at 1.1795 and closed at 1.1791. The key level at this phase is 1.1800. A break to the upside from that level could trigger further bullish scenario towards 1.1950 area. My model is mixed with neutral bias. CCI in overbought area on 4h chart so we might have some downside consolidation.

USDCHF Daily Supports and Resistances:

• S1= 1.1640
• S2= 1.1489
• S3= 1.1412
• R1= 1.1868
• R2= 1.1945
• R3= 1.2096

Have a great weekend!

Thu, 06th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD attempted to pushed higher yesterday. The pair broke 1.3048 resistance, topped at 1.3116, but closed lower at 1.2927 ( A false breakout). This fact should keep the bearish scenario intact. My model remains mixed with downside bias. Immediate resistance is seen at 1.3003. Initial support at 1.2850 followed by 1.2705. CCI just cross 100 line down on 4h chart suggesting a potential downside pressures.

EURUSD Daily Supports and Resistances:

• S1= 1.2774
• S2= 1.2621
• S3= 1.2450
• R1= 1.3098
• R2= 1.3269
• R3= 1.3422

GBPUSD Outlook
The GBPUSD attempted to make a further upside corrections yesterday. The pair broke the 1.6130 resistance, topped at 1.6197, but closed lower at 1.5887. Early today in Asian session the pair continued to push lower, traded at around 1.5825 at the time I wrote this comment. For now, this fact should keep the bearish scenario intact. My model remains mixed with downside bias. Immediate resistance is seen at 1.5990. Initial support at 1.5810 followed by 1.5750. CCI heading down towards -100 line both on hourly and 4h chart suggesting a potential downside pressures.

GBPUSD Daily Supports and Resistances:

• S1= 1.5692
• S2= 1.5497
• S3= 1.5245
• R1= 1.6139
• R2= 1.6391
• R3= 1.6586

USDJPY Outlook
The USDJPY failed to continued it’s bullish momentum yesterday. The pair bottomed at 97.75 and closed at 97.97. The bullish channel on hourly and 4h chart is violated to the downside. This fact force my model to go mixed with downside bias. Immediate resistance is seen at 98.40 followed by 98.85. Initial support at 97.35. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

• S1= 97.17
• S2= 96.37
• S3= 95.00
• R1= 99.34
• R2= 100.71
• R3= 101.51

USDCHF Outlook
The USDCHF continued it’s bearish correction yesterday. The pair bottomed at 1.1549 and closed at 1.1589. My model remains mixed with downside bias. Immediate resistance is seen at 1.1710. Initial support at 1.1555 followed by 1.1475. CCI just cross 100 line down on daily chart suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

• S1= 1.1510
• S2= 1.1431
• S3= 1.1314
• R1= 1.1706
• R2= 1.1823
• R3= 1.1902

Have a great day!

Wed, 05th of November, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD made a significant upside corrections yesterday. The pair topped at 1.3048 and closed at 1.2994. The key level at this phase is 1.3048 (yesterday’s high, see the chart). A break to the upside should trigger further bullish momentum towards 1.3298 area, while a failure should keep the bearish scenario intact. CCI in overbought area and heading down on 4h chart, suggesting a potential downside pressures. My model is mixed with downside bias. Immediate support is seen at 1.2908 followed by 1.2817.

EURUSD Daily Supports and Resistances:

• S1= 1.2664
• S2= 1.2334
• S3= 1.2142
• R1= 1.3186
• R2= 1.3378
• R3= 1.3708

GBPUSD Outlook
The GBPUSD also recovered higher yesterday. The pair topped at 1.6109 and closed at 1.5964. However I believe the bearish scenario is still intact. Only a move above 1.6130 area could be a violation to this bearish view. My model is mixed with downside bias. Immediate resistance is seen at 1.6003. Initial support at 1.5840 followed by 1.5750. CCI heading down both on hourly and 4h chart suggesting a potential downside pressures.

GBPUSD Daily Supports and Resistances:

• S1= 1.5674
• S2= 1.5384
• S3= 1.5167
• R1= 1.6181
• R2= 1.6398
• R3= 1.6688

USDJPY Outlook
The USDJPY continued it’s bullish momentum yesterday. The pair topped at 100.56 (4 pips lower from my long target at 100.60), but the bullish momentum seemed very limited as the pair closed lower at 99.77. My model is mixed with upside bias. Immediate support is seen at 99.10 followed by 98.50. Initial resistance at 100.60 followed by 101.30. CCI about to cross 100 line down on hourly chart suggesting a potential downside corrections.

USDJPY Daily Supports and Resistances:

• S1= 98.56
• S2= 97.36
• S3= 96.36
• R1= 100.76
• R2= 101.76
• R3= 102.96

USDCHF Outlook
The USDCHF was corrected lower yesterday. The pair bottomed at 1.1566 and closed at 1.1625. My model is mixed with neutral bias in nearest term but with downside bias in longer term. Immediate support is seen at 1.1555 followed by 1.1464. Initial resistance at 1.1710 followed by 1.1800. CCI about to cross 100 line down on daily chart suggesting a potential downside pressures.

USDCHF Daily Supports and Resistances:

• S1= 1.1527
• S2= 1.1429
• S3= 1.1292
• R1= 1.1762
• R2= 1.1899
• R3= 1.1997

Have a great day!