USD/JPY: Corrective rebound to 108.70
EUR/USD Current level - 1.1375
The violation of 1.1420 allowed a slide to 1.1310 and the overall outlook is bearish, for a continuation of the slide towards 1.1214 lows. Intraday allow a brief corrective rebound, which is expected to be limited below 1.1420 hurdle.
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| ||||||||||||||||
| resistance | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| intraday | intraweek | ||||||||||||||||
| 1.1420 | 1.1500 | ||||||||||||||||
| 1.1500 | 1.1630 | ||||||||||||||||
| support | |||||||||||||||||
| intraday | intraweek | ||||||||||||||||
| 1.1310 | 1.1214 | ||||||||||||||||
| 1.1214 | 1.1100 | ||||||||||||||||
USD/JPY Current level - 107.78
Last night's flash crash led to a local low at 104.60 and now the bias is already positive, for a test of 108.70 static resistance. Initial support lies at 106.70.
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| ||||||||||||||||
| resistance | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| intraday | intraweek | ||||||||||||||||
| 108.70 | 111.45 | ||||||||||||||||
| 110.20 | 112.20 | ||||||||||||||||
| support | |||||||||||||||||
| intraday | intraweek | ||||||||||||||||
| 106.70 | 106.70 | ||||||||||||||||
| 104.60 | 104.60 | ||||||||||||||||
GBP/USD Current level - 1.2579
The break through 1.2710 support was followed by a massive sell-off, all the way down to 1.2420. The current rebound is corrective and the intraday bias is positive, for a rise towards 1.2620 area.
Author
Stoyan Mihaylov
DeltaStock.com
Stoyan Mihaylov, 42 years old, a Financial Analyst at Deltastock Inc, has an sixteen-year background as a senior FX Dealer, trading spot and outright forwards.
