USD/JPY Intraday: Key resistance at 109.70

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Bullish bias above 1.1195.

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Pivot (invalidation): 1.1195

Our preference
Long positions above 1.1195 with targets at 1.1225 & 1.1245 in extension.

Alternative scenario
Below 1.1195 look for further downside with 1.1180 & 1.1165 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

GBP/USD

1.2780 expected.

Pivot (invalidation): 1.2880

Our preference
Short positions below 1.2880 with targets at 1.2825 & 1.2780 in extension.

Alternative scenario
Above 1.2880 look for further upside with 1.2925 & 1.2960 as targets.

Comment
A break below 1.2825 would trigger a drop towards 1.2780.

USD/JPY

Key resistance at 109.70.

Pivot (invalidation): 109.70

Our preference
Short positions below 109.70 with targets at 109.15 & 109.00 in extension.

Alternative scenario
Above 109.70 look for further upside with 109.90 & 110.05 as targets.

Comment
As Long as 109.70 is resistance, look for choppy price action with a bearish bias.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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