USD/JPY intraday: Turning down

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Rebound expected.

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Pivot (invalidation): 1.0780

Our preference
Long positions above 1.0780 with targets at 1.0835 & 1.0865 in extension.

Alternative scenario
Below 1.0780 look for further downside with 1.0765 & 1.0740 as targets.

Comment
The RSI has just landed on its neutrality area at 50% and is turning up.

GBP/USD

Continuation of the rebound.

Pivot (invalidation): 1.2215

Our preference
Long positions above 1.2215 with targets at 1.2290 & 1.2320 in extension.

Alternative scenario
Below 1.2215 look for further downside with 1.2190 & 1.2160 as targets.

Comment
The break above 1.2215 is a positive signal that has opened a path to 1.2290.

USD/JPY

Turning down.

Pivot (invalidation): 109.30

Our preference
Short positions below 109.30 with targets at 108.65 & 108.30 in extension.

Alternative scenario
Above 109.30 look for further upside with 109.70 & 110.00 as targets.

Comment
A break below 108.65 would trigger a drop towards 108.30.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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