USD/JPY intraday: Bullish bias above 106.60
|EUR/USD
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Pivot (invalidation): 1.0820
Our preference
Long positions above 1.0820 with targets at 1.0875 & 1.0895 in extension.
Alternative scenario
Below 1.0820 look for further downside with 1.0790 & 1.0765 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
Bullish bias above 1.2395.
Pivot (invalidation): 1.2395
Our preference
Long positions above 1.2395 with targets at 1.2455 & 1.2485 in extension.
Alternative scenario
Below 1.2395 look for further downside with 1.2375 & 1.2355 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
USD/JPY
Bullish bias above 106.60.
Pivot (invalidation): 106.60
Our preference
Long positions above 106.60 with targets at 107.00 & 107.15 in extension.
Alternative scenario
Below 106.60 look for further downside with 106.35 & 106.20 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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