USD/JPY Intraday: the downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Key resistance at 1.0840.

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Pivot (invalidation): 1.0840

Our preference
Short positions below 1.0840 with targets at 1.0815 & 1.0800 in extension.

Alternative scenario
Above 1.0840 look for further upside with 1.0850 & 1.0860 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.0840.

GBP/USD

Watch 1.2970.

Pivot (invalidation): 1.3020

Our preference
Short positions below 1.3020 with targets at 1.2990 & 1.2970 in extension.

Alternative scenario
Above 1.3020 look for further upside with 1.3050 & 1.3070 as targets.

Comment
A break below 1.2990 would trigger a drop towards 1.2970.

USD/JPY

The downside prevails.

Pivot (invalidation): 109.85

Our preference
Short positions below 109.85 with targets at 109.60 & 109.50 in extension.

Alternative scenario
Above 109.85 look for further upside with 109.95 & 110.10 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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