USD/JPY Intraday: the bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Key resistance at 1.1105.

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Pivot (invalidation): 1.1105

Our preference
Short positions below 1.1105 with targets at 1.1085 & 1.1070 in extension.

Alternative scenario
Above 1.1105 look for further upside with 1.1120 & 1.1130 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.1105.

GBP/USD

Rebound expected.

Pivot (invalidation): 1.2980

Our preference
Long positions above 1.2980 with targets at 1.3020 & 1.3045 in extension.

Alternative scenario
Below 1.2980 look for further downside with 1.2960 & 1.2940 as targets.

Comment
A support base at 1.2980 has formed and has allowed for a temporary stabilisation.

USD/JPY

The bias remains bullish.

Pivot (invalidation): 110.00

Our preference
Long positions above 110.00 with targets at 110.30 & 110.45 in extension.

Alternative scenario
Below 110.00 look for further downside with 109.90 & 109.80 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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