USD/JPY levels: Bullish bias above 110.70
|EUR/USD
Target 1.1400.
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Pivot (invalidation): 1.1350
Our preference
Long positions above 1.1350 with targets at 1.1400 & 1.1430 in extension.
Alternative scenario
Below 1.1350 look for further downside with 1.1330 & 1.1300 as targets.
Comment
The RSI lacks downward momentum.
GBP/USD
The upside prevails.
Pivot (invalidation): 1.2685
Our preference
Long positions above 1.2685 with targets at 1.2735 & 1.2765 in extension.
Alternative scenario
Below 1.2685 look for further downside with 1.2665 & 1.2640 as targets.
Comment
The RSI is supported by a rising trend line.
USD/JPY
Bullish bias above 110.70.
Pivot (invalidation): 110.70
Our preference
Long positions above 110.70 with targets at 111.15 & 111.45 in extension.
Alternative scenario
Below 110.70 look for further downside with 110.40 & 110.15 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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