USD/JPY intraday: Bullish bias above 106.60

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Turning up.

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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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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