EUR/USD (1.06): EUR/USD failure to close above 1.0697 saw prices break down during Friday's session, closing at 1.0646. Prices gapped lower earlier today and the outlook seems to be bearish below 1.0697 support/resistance level. A rally to the upside could potentially be capped by the retest to this resistance level. On the 4-hour chart, EUR/USD's attempt to break the trend line failed and prices are back below the minor falling trend line. However, the doji candlestick seen a session ago could mark a reversal if the current candlestick closed on a bullish note. Above 1.0697, 1.0825 remains the next main target in focus.
USD/JPY (123.1): USD/JPY's doji candlestick on Friday marks the indecision on the bull flag pattern. A bullish close today could no doubt see USD/JPY attempt to rally higher to 124.775 region followed by 125.432. However, the strong bearish candlestick from Thursday remains a concern. On the H4 chart, prices are back to consolidating near 123.088 level of support/resistance outside the rising price channel. Failure to break above the price channel could pose the downside risks for a decline to 122 support.
GBP/USD (1.51): GBP/USD closed Friday's session on a strongly bearish note off the upper resistance level at 1.5324 and closed below 1.5237 resistance low. The next support at 1.5121 is the most likely target to the downside, while the scope for any upside rally is limited. With prices break out from the rising price channel, GBP/USD could potentially retest the break out near 1.5239 for a decline to 1.5037. A close above 1.5239 could risk GBP/USD pushing higher.