USD/JPY Intraday: supported by a rising trend line

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Expect 1.1050.

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Pivot (invalidation): 1.1090

Our preference
Short positions below 1.1090 with targets at 1.1065 & 1.1050 in extension.

Alternative scenario
Above 1.1090 look for further upside with 1.1105 & 1.1120 as targets.

Comment
A break below 1.1065 would trigger a drop towards 1.1050.

GBP/USD

Watch 1.2950.

Pivot (invalidation): 1.3035

Our preference
Short positions below 1.3035 with targets at 1.2980 & 1.2950 in extension.

Alternative scenario
Above 1.3035 look for further upside with 1.3060 & 1.3080 as targets.

Comment
As Long as the resistance at 1.3035 is not surpassed, the risk of the break below 1.2980 remains high.

USD/JPY

Supported by a rising trend line.

Pivot (invalidation): 109.30

Our preference
Long positions above 109.30 with targets at 109.55 & 109.70 in extension.

Alternative scenario
Below 109.30 look for further downside with 109.15 & 109.05 as targets.

Comment
The RSI lacks downward momentum.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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