USD/JPY Intraday: the downside prevails
|EUR/USD
Key resistance at 1.0840.
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Pivot (invalidation): 1.0840
Our preference
Short positions below 1.0840 with targets at 1.0815 & 1.0800 in extension.
Alternative scenario
Above 1.0840 look for further upside with 1.0850 & 1.0860 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.0840.
GBP/USD
Watch 1.2970.
Pivot (invalidation): 1.3020
Our preference
Short positions below 1.3020 with targets at 1.2990 & 1.2970 in extension.
Alternative scenario
Above 1.3020 look for further upside with 1.3050 & 1.3070 as targets.
Comment
A break below 1.2990 would trigger a drop towards 1.2970.
USD/JPY
The downside prevails.
Pivot (invalidation): 109.85
Our preference
Short positions below 109.85 with targets at 109.60 & 109.50 in extension.
Alternative scenario
Above 109.85 look for further upside with 109.95 & 110.10 as targets.
Comment
The RSI is bearish and calls for further downside.
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