The USD/JPY struggles around 122.80-resistance- where it meet SMA50 as seen on the provided daily chart.
Still, the market remains trendless since the opening of this week, while technical hesitation is clear on technical indicators, which didn’t give off any confirmed signals.
A break below 122.40 will expose 121.85, while coming above 123.10 will argue traders to test the falling trend line at 123.50.
Support: 122.40-122.20-121.90
Resistance: 122.90-123.10-123.45
Direction: Neutral
Within the same trading range and a candlestick of indecision, the USD/CHF has ended yesterday’s trading as most of majors.
The pair is presently trapped between 0.9500 and 0.9400 levels without showing the ability to breach one of them.
Accordingly, we will continue to watch the price behaviors until USDCHF takes out one of them to pinpoint the intraday direction.
Support: 0.9430-0.9390-0.9340
Resistance: 0.9485-0.9505-0.9550
Direction: Sideways
EUR/USD pair has attempted to incline yesterday, but it couldn’t stabilize above 38.2% Fibonacci at 1.1065.
Moving averages are covering the movements from the underside, while RSI is trading below 50.00 and this is a negative sign.
However, we need to witness a breakout below 1.0950 to prove the bearishness and we will be neutral between 1.1065 and 1.0950.
Support: 1.1000-1.0950-1.0835
Resistance: 1.1065-1.1125-1.1200
Direction: Sideways
GBP/USD has declined after failing to stabilize above SMA20, while ADX becomes negative along with momentum indicator.
However, 1.5560 held as a support at 50% Fibonacci, which is so close to the trend line of the channel. Thus, breaking 1.5610 should bring upside actions.
Support: 1.5560-1.5500-1.5470
Resistance: 1.5650-1.5710-1.5755
Direction: We will be waiting for a breakout above 1.5610 to affirm bullish actions.