USD/JPY Intraday: Limited upside

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Bullish bias above 1.1300.

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Pivot (invalidation): 1.1300

Our preference
Long positions above 1.1300 with targets at 1.1330 & 1.1345 in extension.

Alternative scenario
Below 1.1300 look for further downside with 1.1275 & 1.1245 as targets.

Comment
The RSI lacks downward momentum.

GBP/USD

The bias remains bullish.

Pivot (invalidation): 1.3170

Our preference
Long positions above 1.3170 with targets at 1.3220 & 1.3245 in extension.

Alternative scenario
Below 1.3170 look for further downside with 1.3140 & 1.3110 as targets.

Comment
A support base at 1.3170 has formed and has allowed for a temporary stabilisation.

USD/JPY

Limited upside.

Pivot (invalidation): 109.90

Our preference
Long positions above 109.90 with targets at 110.25 & 110.50 in extension.

Alternative scenario
Below 109.90 look for further downside with 109.70 & 109.40 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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