USD/JPY intraday: Rebound

Swissquote Bank Research Team Swissquote Bank Ltd

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 & 1.0795 in extension.

Alternative scenario
Above 1.0840 look for further upside with 1.0860 & 1.0880 as targets.

Comment
As Long as the resistance at 1.0840 is not surpassed, the risk of the break below 1.0815 remains high.

GBP/USD

Under pressure.

Pivot (invalidation): 1.2435

Our preference
Short positions below 1.2435 with targets at 1.2400 & 1.2380 in extension.

Alternative scenario
Above 1.2435 look for further upside with 1.2455 & 1.2480 as targets.

Comment
A break below 1.2400 would trigger a drop towards 1.2380.

USD/JPY

Rebound.

Pivot (invalidation): 107.15

Our preference
Long positions above 107.15 with targets at 107.50 & 107.62 in extension.

Alternative scenario
Below 107.15 look for further downside with 107.00 & 106.85 as targets.

Comment
The RSI calls for a new upleg.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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