USD/JPY Intraday: Rebound

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Turning down.

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Pivot (invalidation): 1.1315

Our preference
Short positions below 1.1315 with targets at 1.1285 & 1.1260 in extension.

Alternative scenario
Above 1.1315 look for further upside with 1.1335 & 1.1350 as targets.

Comment
The RSI is bearish and calls for further downside.

GBP/USD

Turning down.

Pivot (invalidation): 1.2940

Our preference
Short positions below 1.2940 with targets at 1.2865 & 1.2840 in extension.

Alternative scenario
Above 1.2940 look for further upside with 1.2960 & 1.2980 as targets.

Comment
The RSI advocates for further decline.

USD/JPY

Rebound.

Pivot (invalidation): 110.45

Our preference
Long positions above 110.45 with targets at 110.80 & 110.95 in extension.

Alternative scenario
Below 110.45 look for further downside with 110.35 & 110.25 as targets.

Comment
The RSI calls for a rebound.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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