The fluctuations are still seen on the USD/JPY pair despite retracing from areas above the intersection point of moving averages.
Currently, the pair trades below 110.00 psychological, while 109.40 act as a good support.
We see chances of achieving new attempt to hit 110.30, but ahead of the weekly closing, we prefer to stand aside.
On the downside, coming below 109.40-109.30 is negative signal for intraday traders.
Support: 109.60-109.20-109.65
Resistance: 110.30-110.60-111.05
Direction: Bullish, but we will avoid trading until it takes out 110.30.
The narrow consolidation area continued to be seen over short-term basis, preventing us from suggesting a specific direction alongside overbought signs on RSI.
The levels to watch are 0.9930 and 0.9850, as those are the pivotal levels, while a break of one of them will offer a new setup.
Note, risk is too high, as a price explosion is awaited following the current consolidation.
Support: 0.9860-0.9805-0.9780
Resistance: 0.9945-0.9980-1.0000
Direction: Neutral
Euro declines slightly after failing to hit 1.1220, while moving averages tries to overlap negatively at 38.2% Fibonacci.
Stability below 1.1220 is negative, but a break below 1.1125 will extend the bearishness on ADX.
We will be bearish based on the bearish crossover attempt on moving averages.
Support: : 1.1125 – 1.1070 – 1.1055
Resistance: 1.1170 –1.1225 – 1.1285
GBP/USD attempts to breach SMA20 after failing to stabilize above 1.4725-1.4680, which becomes a good resistance.
RSI and ADX show mixed signal; thus we will depend on the strength of 1.4725 to be bearish, while a break below 1.4600 will accelerate.
Support: 1.4600 – 1.4550 – 1.4500
Resistance: 1.4680 – 1.4725 – 1.4775
Direction: Bearish attempt