USD/JPY intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD: Towards 1.1760

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Pivot (invalidation): 1.1665

Our preference
Long positions above 1.1665 with targets at 1.1735 & 1.1760 in extension.

Alternative scenario
Below 1.1665 look for further downside with 1.1630 & 1.1600 as targets.

Comment
The RSI is bullish and calls for further upside.

GBP/USD: Target 1.2900

Pivot (invalidation): 1.2800

Our preference
Long positions above 1.2800 with targets at 1.2870 & 1.2900 in extension.

Alternative scenario
Below 1.2800 look for further downside with 1.2775 & 1.2750 as targets.

Comment
The RSI is bullish and calls for further advance.

USD/JPY: The downside prevails

Pivot (invalidation): 105.90

Our preference
Short positions below 105.90 with targets at 105.25 & 105.00 in extension.

Alternative scenario
Above 105.90 look for further upside with 106.15 & 106.45 as targets.

Comment
The break below 105.90 is a negative signal that has opened a path to 105.25.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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