USD/JPY levels: Bullish bias above 110.70

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Target 1.1400.

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Pivot (invalidation): 1.1350

Our preference
Long positions above 1.1350 with targets at 1.1400 & 1.1430 in extension.

Alternative scenario
Below 1.1350 look for further downside with 1.1330 & 1.1300 as targets.

Comment
The RSI lacks downward momentum.

GBP/USD

The upside prevails.

Pivot (invalidation): 1.2685

Our preference
Long positions above 1.2685 with targets at 1.2735 & 1.2765 in extension.

Alternative scenario
Below 1.2685 look for further downside with 1.2665 & 1.2640 as targets.

Comment
The RSI is supported by a rising trend line.

USD/JPY

Bullish bias above 110.70.

Pivot (invalidation): 110.70

Our preference
Long positions above 110.70 with targets at 111.15 & 111.45 in extension.

Alternative scenario
Below 110.70 look for further downside with 110.40 & 110.15 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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