CS: Today’s FX Technicals: FXWW

From the FXWW Chatroom

USDJPY continues to threaten a medium-term base, with a clear break above 114.50 needed to confirm to target 118.50.
EURJPY has formed a bearish “outside day”, but while 131.91 remains intact a slight bullish bias in the range can remain.
EURUSD maintains its “head & shoulders” top and we stay bearish for a break below 1.1574 to target 1.1423/09.
EURGBP sharp fall is expected to turn the spotlight back to its 200-day average and major price support at .8763/33.
GBPUSD has established a minor base above 1.3133 to turn the immediate risk higher within the broader converging sideways range.
USDCAD has reinforced its minor top below 1.2799, and we stay near-term bearish for 1.2598/85.
NZDUSD strength stays seen as corrective for now.
AUDUSD has held retracement and price support at .7633/25 for now, but a break in due course should see a deeper fall to .7565.
USDCHF stays bullish for 1.0101/12.

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