USDJPY Price Analysis

Expected Scenario

• The USDJPY price settles below the broken support line of the bullish channel, to keep the correctional bearish scenario suggested for the upcoming period, waiting to visit 160.20 as a first target, noting that breaking it will push the price towards 159.10 as a next correctional station.
• Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 161.65 will stop the negative scenario and lead the price to regain the main bullish track again.

Expected Trading Range

Between 160.50 support and 162.00 resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price confirms breaking above the level of 1.2700$ after finishing yesterday's trading above it, supporting expectations for a bullish turnaround and the formation of an upward wave targeting levels of 1.2800$ and then 1.2890$ primarily, supported by moving above the 50-period moving average.
• Negative signals from the Relative Strength Index (RSI) may cause some sideways oscillation before resuming the expected upward movement, with attention to the fact that breaking below 1.2700$ will halt the bullish wave and put the price under renewed corrective downward pressure.

Expected Trading Range

Between 1.2660$ support and 1.2835$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price settles around the minor resistance 1.0795$, which forms solid barrier against the positive attempts, waiting to get enough positive momentum to push the price to resume the positive trades and breach this level to open the way to head towards 1.0840$ that represents the next positive target.
• Therefore, we expect the continuation of the bullish bias in the upcoming sessions, and breaching the mentioned level will push the price towards 1.0915$ on the near term basis, while breaking 1.0760$ will stop the expected rise and push the price to decline again.

Expected Trading Range

Between 1.0720$ support and 1.0860$ resistance.