The USDJPY price rallied upwards sharply yesterday to surpass the recently recorded high at 150.88 and settles above it, opening the way to achieve more gains on the short-term and medium term basis, noting that the next station is located at 151.70, which breaching it represents the key to rally towards 153.00 areas.

Therefore, the bullish trend will remain valid in the upcoming period, noting that breaking 150.88 will stop the expected rise and push the price to achieve some intraday bearish correction before turning back to rise again.

The expected trading range for today is between 150.60 support and 152.10 resistance

Trend forecast: Bullish

The GBPUSD price provided clear positive trades after testing the bullish trend line that appears on the chart, but it loses its positive momentum to show some bearish bias by today’s open, to face contradiction between the technical factors that makes us prefer to continue with our neutrality until we get clearer signal for the next trend, through breaking 1.2685 support or breaching 1.2765 resistance.

Note that breaking the mentioned support will push the price to continue the decline within the bearish channel that organizes the bearish wave from 1.2893 areas, to head towards achieving negative targets that start at 1.2600 and extend to 1.2500, while breaching the resistance represents the key to regain the main bullish trend and head to achieve positive targets that start at 1.2880 followed by 1.3000.

The expected trading range for today is between 1.2630 support and 1.2805 resistance.

Trend forecast: Neutral

The EURUSD price hovers around 1.0860 level, and attempts to surpass this level, but we notice that stochastic loses its positive momentum clearly to approach the overbought areas, to support the chances of continuing the negative effect of the previously completed double top pattern followed by heading to resume the bearish wave on the intraday basis, which its next target located at 1.0765.

Therefore, we will keep our bearish overview for the upcoming period, taking into consideration that breaching 1.0860 will stop the expected decline and push the price to recover and achieve intraday gains that start at 1.0900 followed by 1.0960.

The expected trading range for today is between 1.0780 support and 1.0920 resistance.

Trend forecast: Bearish

Crude oil price rallied upwards to surpass our first target at 82.60 and confirms opening the way to the continuation of the bullish trend on the intraday and short term basis, reminding you that our next targets located at 83.85 and extend to 86.00 after surpassing the previous level, noting that holding above 80.90 represents major condition to achieve these targets.