USD/JPY Intraday: Choppy

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Turning down.

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Pivot (invalidation): 1.1320

Our preference
Short positions below 1.1320 with targets at 1.1280 & 1.1260 in extension.

Alternative scenario
Above 1.1320 look for further upside with 1.1340 & 1.1360 as targets.

Comment
The RSI calls for a new downleg.

GBP/USD

Turning down.

Pivot (invalidation): 1.3120

Our preference
Short positions below 1.3120 with targets at 1.3065 & 1.3050 in extension.

Alternative scenario
Above 1.3120 look for further upside with 1.3135 & 1.3150 as targets.

Comment
The RSI shows downside momentum.

USD/JPY

Limited upside.

Pivot (invalidation): 111.85

Our preference
Long positions above 111.85 with targets at 112.10 & 112.25 in extension.

Alternative scenario
Below 111.85 look for further downside with 111.65 & 111.50 as targets.

Comment
A support base at 111.85 has formed and has allowed for a temporary stabilisation.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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