USD/JPY Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Intraday support around 1.1260.

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Pivot (invalidation): 1.1260

Our preference
Long positions above 1.1260 with targets at 1.1285 & 1.1305 in extension.

Alternative scenario
Below 1.1260 look for further downside with 1.1245 & 1.1230 as targets.

Comment
The RSI is above its neutrality area at 50%.

GBP/USD

Supported by a rising trend line.

Pivot (invalidation): 1.3080

Our preference
Long positions above 1.3080 with targets at 1.3120 & 1.3140 in extension.

Alternative scenario
Below 1.3080 look for further downside with 1.3060 & 1.3030 as targets.

Comment
The RSI is above its neutrality area at 50%.

USD/JPY

Capped by a negative trend line.

Pivot (invalidation): 111.20

Our preference
Short positions below 111.20 with targets at 110.95 & 110.80 in extension.

Alternative scenario
Above 111.20 look for further upside with 111.35 & 111.50 as targets.

Comment
A break below 110.95 would trigger a drop towards 110.80.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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