The USD/JPY soared as expected, where it now comes very close to the proposed technical target of 110.50-110.60 as expected earlier.
We have closed the premium long position we suggested for our subscribers due to being close to the aforementioned resistance.
All eyes will be on this level, as a break above it with a daily closing will be a new bullish signal.
To conclude, the outlook remains bullish with intraday support at 109.60, but we will avoid trading the pair until it surpasses 110.60-110.70 areas.
Support: 110.00-109.60-109.20
Resistance:110.80-111.10-111.55
Direction: Bullish, but we will not trade the pair today.
USD/CHF has achieved our technical target that we defined with the opening of the week at 0.9860.
Currently we see how RSI is flirting with the value of 70.00, and that would cause some kind of fluctuation; thus, we will avoid this awaited volatility until the pair ignores this signal.
We remain bullish over intraday basis, but we will be waiting for a good entry point to enter the market.
Support: 0.9805-0.9780-0.9720
Resistance: 0.9905-0.9945-0.9980
Direction: Bullish, but we will not trade the pair today.
Euro declined, stabilizing below 1.1220-1.1215, and breaching this level will cause additional debasement.
ADX remains negative, while RSI moves lower along with long black candlestick that was formed yesterday.
Hence, we remain bearish targeting 1.1125 and 1.1085 respectively.
On the upside, coming above 1.1315 will negate.
Support: : 1.1220 – 1.1170 – 1.1125
Resistance: 1.1285 –1.1315 – 1.1365
Direction: Bearish
GBP/USD stabilized between 61.8% Fibonacci and 50% level at 1.4605 and 1.4550.
A break above 1.4605 is required to be bullish, while coming below 1.4550 will negate.
Between those levels we will be neutral, as ADX doesn’t offer reliable signal, while RSI comes down from overbought areas.
Support: 1.4420 – 1.4385 – 1.4295
Resistance: 1.4480 – 1.4525 – 1.4590
Direction: Neutral