USD/JPY intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD: Key resistance at 1.1855

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Pivot (invalidation): 1.1855

Our preference
Short positions below 1.1855 with targets at 1.1825 & 1.1810 in extension.

Alternative scenario
Above 1.1855 look for further upside with 1.1870 & 1.1885 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.1855.

GBP/USD: Caution

Pivot (invalidation): 1.2925

Our preference
Short positions below 1.2925 with targets at 1.2870 & 1.2840 in extension.

Alternative scenario
Above 1.2925 look for further upside with 1.2975 & 1.3030 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

USD/JPY: The downside prevails

Pivot (invalidation): 105.50

Our preference
Short positions below 105.50 with targets at 105.10 & 105.00 in extension.

Alternative scenario
Above 105.50 look for further upside with 105.65 & 105.80 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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