USDJPY levels: Caution

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

1.1735 expected.

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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.

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.

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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