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USD / JPY Daily Outlook August 16, 2012 Break of 79.13 resistance indicates that a decrease of 80.61 finish. Upside and the daily bias is targeting 79.96 first and 80.61 the next. The current development does not guarantee a decrease of 84.17 has been flipped. Therefore, it will be careful in topping signals around 80.61 . And, break of 78.59 indicates the completion of a rebound. USD / CHF Daily Outlook August 16, 2012 USD / CHF Daily neutral bias (sideway) for now. Short-term outlook remains bearish as long as 0.9898 minor resistance has not been touched. Decline from 0.9971 will continue. Below 0.9656 will target 38.2% retracement of the 0.8930-0.9971 at 0.9573 . Break there will have more bearish implications, and should target the 0.9420 support. However, break of 0.9898 would target 0.9971 and possibly above. EUR / USD Daily Outlook August 16, 2012 EUR / USD still below 1.2443 daily and neutral bias. As long as 1.2133 support has not been touched, rebound from 1.2042 will continue. Above 1.2443 will target resistance is 1.2747 (50% retracement of 1.3486 to 1.2042 at 1.2764). However, break of 1.2133 would confirm the rebound from 1.2042 is complete. In such case, EUR / USD re-test at level 1.2000 . GBP / USD Daily Outlook August 16, 2012 GBP / USD is still in the range of 1.5489/5767 and daily bias remains neutral. On the condition of upside, break of resistance 1.5767/77 will confirm resumption of rebound from 1.5268 and target 1.5901 / 6 (61.8% retracement of 1.6300 to 1.5268 at 1.5906 and 100% of the projected one, 5268 to 1.5777 from 1.5392 at 1.5901). However, break of 1.5489 support will bring a reduction in support to 1.5392 . Read More