USD/JPY Intraday: Support around 108.20

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The upside prevails.

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Pivot (invalidation): 1.1245

Our preference
Long positions above 1.1245 with targets at 1.1285 & 1.1300 in extension.

Alternative scenario
1.1245 look for further downside with 1.1230 & 1.1215 as targets.

Comment
The RSI is bullish and calls for further upside.

GBP/USD

Rebound.

Pivot (invalidation): 1.2520

Our preference

Long positions
above 1.2520 with targets at 1.2555 & 1.2570 in extension.

Alternative scenario
Below 1.2520 look for further downside with 1.2505 & 1.2490 as targets.

Comment
The RSI calls for a bounce.

USD/JPY

Intraday support around 108.20.

Pivot (invalidation): 108.20

Our preference
Long positions above 108.20 with targets at 108.60 & 108.75 in extension.

Alternative scenario
Below 108.20 look for further downside with 108.00 & 107.85 as targets.

Comment
A support base at 108.20 has formed and has allowed for a temporary stabilisation.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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