The USD/JPY has reached all extreme targets we defined earlier, including 107.65-107.60.
The bounce from these levels was very strong due to the oversold signals over all time frames, but we can’t follow through on Friday ahead of closing while RSI14 remains below 30.00 levels and didn’t show signals of hitting this momentum level.
We are content with the profit we made after catching the bearish trend with the opening of this week and we will stay aside.
Support: 108.50-107.80-107.50
Resistance: 109.30-109.65-110.00
Direction: Neutral
GBP/USD traded around 1.4055 with the opening of the European session, while stability below 1.4105 is negative.
The psychological level of 1.4000 should be cleared to expose 1.3945 where 127.2% Fibonacci exists along with negativity on ADX and moving averages.
Support: 1.4055 – 1.4000 – 1.3945
Resistance: 1.4105 – 1.4145 – 1.4210
Direction: Bearish below 1.40