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EUR/JPY and GBP/JPY at Declining Channel Support

Basically in both the EUR/JPY and GBP/JPY, we are ready for some corrective rally. However, there is still further downside before some more key support factors come in play. So without confidence for the bullish outlook from the current support, it may be prudent to apply quicker trade management (ie. move stop to lock in profit early), if you are trading into a corrective rallies.

Fan Yang | May 25 | FX Times

US Treasury Market and Yen Relationship Tells a Story

A relationship we've been closely watching for several months (from April and May); "A new high in the 10 year note is most likely not going to be coincident with a new high in Yen (new low in USDJPY). This divergence will help in timing the next USDJPY long.

Jamie Saettele | May 25 | DailyFX

GBPUSD: Takes Out Key Support, Set To Recapture The 1.5805 Level

With the pair selling off and breaking below its medium term rising trendline, further bearishness is expected in the days ahead. On continued weakness, GBP will target the 1.5805 level, April 05'2012 low with a violation of there allowing for more weakness towards the 1.5642/53 levels, its Feb 14/15'2012 lows.

Mohammed Isah | May 25 | FX Tech Strategy

GBPJPY: Maintains Its Broader Downside Bias

Having continued to hold on to its broader downside GBPJPY looks to target the 124.63 level. This if seen will call for move lower towards the 123.22 level followed by the 122.80 level and then the 122.02 level, its Jan 25'2012 high. Its daily RSI is bearish and pointing lower supporting this view. On the upside, a return above the 126.

Mohammed Isah | May 25 | FX Tech Strategy

'All Taste, No Nourishment', Euro Leaders Dinner Fails to Inspire

Despite solid gains from European indices and mild support for U.S stocks, the overall theme of negativity continued to hold risk assets at bay overnight with intermittent periods of strength quickly overcome, with European drama's remaining the key directive.

Chris G. | May 24 | GoMarkets

USDCHF Trades above January High

The USDCHF has traded to the January high, thus triggering its intra-year reversal. As mentioned last update; "near term structure (3 wave drop for example from the top) is constructive against 9367 towards the January high at 9594." This remains the case but the January high may be a good place for price to consolidate before resuming the larger bull trend.

Jamie Saettele | May 24 | DailyFX

USD/CHF Slowing Its Bull Run at the 2012 High

The 1H chart does show the type of bearish divergence I consider valid. A break below 0.9530 can start the topping process. Again, the maximum bearish target here is 0.94. traders might want to consider early trade management to lock in profit even before the market gets to this level in case the rejection from 0.9593 2012-high is a fleeting one.

May 24 | FX Times

GBPUSD: Takes Out Key Support, Set To Recapture The 1.5805 Level

Mohammed Isah | May 24 | FX Tech Strategy

EURGBP: Bearish Medium Term, Eyes The 0.7949 Level

We continue to hold our downside bias on EURGBP as we look for it to decline further towards the 0.7949 level. A breach of here will turn focus to the 0.7840 level. A decisive clearance of this level will open the door for a run at the 0.7750 level with a cut through here paving the way for a move lower towards its Oct 2008 low at 0.7691.

Mohammed Isah | May 24 | FX Tech Strategy

Euro Struggles As EU Summit Disappoints, Sterling Carving Higher Low?

The EU Summit failed to prop up the Euro amid the ongoing rift within the group, and we may see European officials continue to act in their own interest as the anti-austerity movement gathers pace. As French President Francois Hollande and Italian Prime Minister Mario Monti press for increased integ...

David Song | May 24 | DailyFX

Charting Momentum in Latest Forex Cycles

More evidence of the German locomotive dragged down by the rest of the European continent as German manufacturing PMI dips to 45.0, its lowest figure since May 2009. The French version of manufacturing PMI hit 44, also a 36-month low. EURUSD hits a fresh low on the year at $1.25, down 3.3% year-to-date, and down 7.0% from its February highs.

Ashraf Laidi | May 24 | Ashraf Laidi

Euro Slides on 'Grexit' Concerns; Australian Dollar Falls to Fresh 6-month Lows

A global bid for safety dominated proceedings overnight with significant losses across European equities forcing further downside across the risk spectrum.

May 24 | GoMarkets