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EUR/JPY edged lower to 147.03 last week but rebounded strongly since then. A short term bottom is in place at 147.03 with bullish convergence condition in 4 hours MACD and RSI. Initial bias remains on the upside this week and

GBP/JPY's strong rebound from 184.47 and break of 193.77 resistance indicates that a short term bottom is finally formed with bullish convergence condition in 4 hours MACD and RSI. Further corrective rebound is expected this week, towards 202.50/206.51 resistance zone.

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Despite edging lower to 0.7802 earlier last week, AUD/USD failed to sustain below 38.2% retracement of 0.4773 to 0.9849 at 0.7910 and rebounded strongly. Break of 0.8263 resistance indicates that a short term bottom is in place with bullish convergence

With a short term bottom in place at 1.7445, cable's rebound from there extended further to as high as 1.8388 last week. The rebound is still in progress and should be targeting mentioned 1.8512/8794 resistance zone. Still, such rise from

USD/CHF's correction from 1.1416 extended to as low as 1.0899 last week but was contained by mentioned 1.0882 cluster support (38.2% retracement of 1.0010 to 1.1416 at 1.0879) as expected and rebounded strongly to as high as 1.1279 before retreating

Even though hesitation was seen turning the pair off higher prices(1.4481 & 1.4542) twice within last week, Friday's reversal of its intra-day losses saw EUR follow through to the upside on its hammer candle formation to close the week higher

USD/CAD had another attempt at 1.0791/98 (61.8% retracement of 1.1874 to 0.9056 at 1.0798, 61.8% projection of 0.9056 to 1.0378 from 0.9974 at 1.0791) last week but failed again. Short term outlook remains neutral for the moment with the pair

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Answer: Absolutely Reason: It has been done successfully before. A very similar situation happened in Sweden in the early 1990's with the difference being that in the Swedish case, the situation was far worse. Qualifiers: This doesn't mean stocks can