USD/JPY Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Intraday support around 1.1270.

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Pivot (invalidation): 1.1270

Our preference
Long positions above 1.1270 with targets at 1.1310 & 1.1325 in extension.

Alternative scenario
Below 1.1270 look for further downside with 1.1245 & 1.1230 as targets.

Comment
The RSI lacks downward momentum.

GBP/USD

Key resistance at 1.2830.

Pivot (invalidation): 1.2830

Our preference
Short positions below 1.2830 with targets at 1.2770 & 1.2740 in extension.

Alternative scenario
Above 1.2830 look for further upside with 1.2850 & 1.2875 as targets.

Comment
As Long as the resistance at 1.2830 is not surpassed, the risk of the break below 1.2770 remains high.

USD/JPY

The downside prevails.

Pivot (invalidation): 110.60

Our preference
Short positions below 110.60 with targets at 110.10 & 109.90 in extension.

Alternative scenario
Above 110.60 look for further upside with 110.80 & 110.95 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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