USD/JPY Intraday: watch 110.35

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The bias remains bullish.

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Pivot (invalidation): 1.1125

Our preference
Long positions above 1.1125 with targets at 1.1145 & 1.1155 in extension.

Alternative scenario
Below 1.1125 look for further downside with 1.1110 & 1.1100 as targets.

Comment
The RSI lacks downward momentum.

GBP/USD

Key resistance at 1.3005.

Pivot (invalidation): 1.3005

Our preference
Short positions below 1.3005 with targets at 1.2975 & 1.2960 in extension.

Alternative scenario
Above 1.3005 look for further upside with 1.3030 & 1.3050 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.3005.

USD/JPY

Watch 110.35.

Pivot (invalidation): 109.85

Our preference
Long positions above 109.85 with targets at 110.20 & 110.35 in extension.

Alternative scenario
Below 109.85 look for further downside with 109.60 & 109.40 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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