USD/JPY Intraday: bullish bias above 107.80

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Rebound expected.

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Pivot (invalidation): 1.1000

Our preference
Long positions above 1.1000 with targets at 1.1035 & 1.1055 in extension.

Alternative scenario
Below 1.1000 look for further downside with 1.0985 & 1.0970 as targets.

Comment
A support base at 1.1000 has formed and has allowed for a temporary stabilisation. The pair has swung back to the upper Bollinger band after locating a key support at 1.1000.

GBP/USD

The upside prevails.

Pivot (invalidation): 1.2400

Our preference
Long positions above 1.2400 with targets at 1.2465 & 1.2500 in extension.

Alternative scenario
Below 1.2400 look for further downside with 1.2370 & 1.2330 as targets.

Comment
The RSI lacks downward momentum.

USD/JPY

Bullish bias above 107.80.

Pivot (invalidation): 107.80

Our preference
Long positions above 107.80 with targets at 108.15 & 108.30 in extension.

Alternative scenario
Below 107.80 look for further downside with 107.55 & 107.35 as targets.

Comment
A support base at 107.80 has formed and has allowed for a temporary stabilisation.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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