The USD/JPY pair has moved sharply to the downside again during the Asian session after failing to clear 113.60 yesterday.
Coming below the corrective uptrend line and below 112.40 could be seen as negative factor.
SMA20 at 113.35 protects bears now and we will follow through, aiming to challenge 110.80 and 110.50, supported by the negative signals on RSI and ADX.
Support: 111.60-111.05-110.80
Resistance: 112.40-113.00-113.60
Direction: Bearish
Respecting the bearish signs we discussed yesterday in our continuous updates, the USD/CHF pair has fallen below 61.8% Fibonacci at 0.9797.
Moving averages played a big role, pushing the pair to the downside after meeting 50% Fibonacci at 0.9898.
The negative signs persist and thus, we remain bearish over intraday basis.
Support: 0.9730-0.9700-0.9670
Resistance: 0.9800-0.9840-0.9900
Direction: Bearish
Euro inclined in Asian session, touching 1.1255, which represents 78.6% Fibonacci, and this level will define the next big move.
ADX is positive, while RSI nears 50.00 levels and therefore, a break above 1.1255-1.1260 is required to extend the wave towards 88.6% at 1.1310-1.1315.
Another break above those levels will expose 1.1375 as far as 1.1160 holds.
Support: : 1.1260 –1.1315 – 1.1375
Resistance: 1.1125 –1.1165 – 1.1200
Direction: Bullish
GBP/USD attempts to incline, reinforced by stability above moving averages around 1.4200, and is currently trading above 1.4250.
However, we need some kind of confirmation to re-test the broken trend at 1.4280. Hence, we will be neutral between 1.4200 and 1.4280 and a break below 1.4200 will bring the bearishness back into focus.
Support: 1.4250 – 1.4200 – 1.4150
Resistance: 1.4280 – 1.4300 – 1.4350
Direction: Neutral between 1.4200 and 1.4280