EURUSD: After some period of consolidation, the EURUSD pair broke upwards (just to allow further confirmation of the bullish signal that has already been in place). It is expected that this bullish trend will continue on Thursday. If it is true, the resistance level at 1.2850 will be broken upwards.

USDCHF:  The pair continued its bearish run on Wednesday – something that is expected to continue today. Both the 2 EMAs and the RSI 14 period are giving an indication of a bearish signal. If this weakness continues in its slow and steady manner, the price will touch the support level at 0.9350.

GBPUSD: At last, this market shows a precise decision. After much dithering, the price broke upwards as The EMA 11 crossed its EMA 56 counterpart to the upside. We should note that the Williams’ % Range had been in a perpetual overbought position prior to this. Since the price is now pushing against the zone at 1.5950, it will go to the distribution zone at 1.6000 when the 1.5950 zone is breached to the upside.

USDJPY: The USDJPY pair, which is in a serious bullish mode at the present, has continued to break one supply territory after the other. Right now, the price seems to be targeting the supply zone at 83.00, providing that it could cleanly leave the zone at 82.50 and go further up. We should not forget that the RSI 14 period has long been in the overbought area (i.e. the area above the level 70), therefore, a temporary pullback should not surprise us.

EURJPY: Since the low of 100.32 that was reached at the middle of the last week, the EURJPY pair has moved upwards by more than 500 pips. The bullish bias is very much noteworthy and has the potential to keep on doing so, especially given the remarkable weakness in the yen. However, it should be noticed that the Williams’ % Range is perpetually in an overbought territory. So a minor pullback in this northward journey should not be a big deal, particularly as the price approaches the supply zone at 106.00.