GBP/USD's break of 1.5882 confirmed resumption of whole rise from 1.5234. Intraday bias is back on the upside and further rally should be seen to 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already.

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The break of 0.9114 temporary low indicates resumption of decline from 0.9594. Intraday bias is back on the downside for 0.9065 support. As noted before, considering bearish divergence condition in daily MACD, whole rebound from 0.7065 is possibly finished. Break of 0.9065 support will target 0.8567 key support to confirm

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USD/JPY recovers further to as high as 77.15 so far today and breaks 55 days EMA as expected. Intraday bias is mildly on the upside and further rebound could still be seen. But after all, near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52

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The strong recovery and break of 0.8343 minor resistance dampens the immediate bearish case in EUR/GBP. Instead, current development suggests that consolidation form 0.8221 is still in progress. Stronger rebound might be seen to 0.8409 resistance and above. But after all, we'd continue to expect strong resistance from 38.2% retracement

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GBP/JPY's strong break of 122.04 resistance confirmed resumption of whole rebound from 117.29. Intraday bias is back on the upside and current rally should target 100% projection of 117.29 to 122.04 from 119.58 at 124.33 next. Also, note again that such rise from 117.29 is viewed as the third leg

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Although Greece's PSI and its access to the new tranche of bailout fund dragged on, market sentiment appeared to have improved since the last ECB meeting. Moreover, reaction to the 3-year LTRO was positive while economic data over the past few weeks showed improvement. These should allow the ECB to

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Although Greece's PSI and its access to the new tranche of bailout fund dragged on, market sentiment appeared to have improved since the last ECB meeting. Moreover, reaction to the 3-year LTRO was positive while economic data over the past few weeks showed improvement. These should allow the ECB to

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EUR: The single currency rallied yesterday in part due to the late surge in EUR/JPY (rose above 102.00) in part due to optimism of an agreement between Greece and the Troika, stops above 1.3220 and 1.3235-40 were triggered and offers at 1.3275-85 were also cleared, stops above 1.3300 option barrier

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EUR/JPY's strong rise and break of 102.20 resistance confirmed that whole rebound from 97.03 has resumed. Intraday bias is back on the upside and current rise should extend to 100% projection of 97.03 to 102.20 from 99.24 at 104.41. On the downside, below 01.60 minor support will turn bias neutral

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