USD/JPY levels: Turning down

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Caution.

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Pivot (invalidation): 1.1690

Our preference
Short positions below 1.1690 with targets at 1.1665 & 1.1650 in extension.

Alternative scenario
Above 1.1690 look for further upside with 1.1715 & 1.1725 as targets.

Comment
The upward potential is likely to be limited by the resistance at 1.1690.

GBP/USD

Key resistance at 1.3170.

Pivot (invalidation): 1.3170

Our preference
Short positions below 1.3170 with targets at 1.3120 & 1.3100 in extension.

Alternative scenario
Above 1.3170 look for further upside with 1.3215 & 1.3245 as targets.

Comment
As Long as the resistance at 1.3170 is not surpassed, the risk of the break below 1.3120 remains high.

USD/JPY

Turning down.

Pivot (invalidation): 112.35

Our preference
Short positions below 112.35 with targets at 112.00 & 111.85 in extension.

Alternative scenario
Above 112.35 look for further upside with 112.45 & 112.60 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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