USD/JPY levels: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The upside prevails.

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Pivot (invalidation): 1.1575
Our preference Long positions above 1.1575 with targets at 1.1645 & 1.1675 in extension.

Alternative scenario
Below 1.1575 look for further downside with 1.1555 & 1.1530 as targets.

Comment
The RSI advocates for further upside.

GBP/USD

Target 1.3275.

Pivot (invalidation): 1.3230
Our preference Long positions above 1.3230 with targets at 1.3275 & 1.3300 in extension.

Alternative scenario
Below 1.3230 look for further downside with 1.3210 & 1.3180 as targets.

Comment
The RSI is bullish and calls for further upside.

USD/JPY

Under pressure.

Pivot (invalidation): 110.25
Our preference Short positions below 110.25 with targets at 109.70 & 109.50 in extension.

Alternative scenario
Above 110.25 look for further upside with 110.55 & 110.75 as targets.

Comment
As Long as 110.25 is resistance, look for choppy price action with a bearish bias.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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