USDJPY levels: Caution

EUR/USD

1.1735 expected.

EURUSD

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Pivot (invalidation): 1.1665

Our preference
Long positions above 1.1665 with targets at 1.1715 & 1.1735 in extension.

Alternative scenario
Below 1.1665 look for further downside with 1.1645 & 1.1610 as targets.

Comment
The RSI lacks downward momentum.

 

GBP/USD

Aim @ 1.3165.

GBPUSD

Pivot (invalidation): 1.3085

Our preference
Long positions above 1.3085 with targets at 1.3135 & 1.3165 in extension.

Alternative scenario Swissquot
Below 1.3085 look for further downside with 1.3055 & 1.3030 as targets.

Comment
The RSI calls for a new upleg.

 

USD/JPY

Caution.

USDJPY

Pivot (invalidation): 111.75

Our preference
Long positions above 111.75 with targets at 112.10 & 112.35 in extension.

Alternative scenario
Below 111.75 look for further downside with 111.50 & 111.35 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.