USD/JPY failed to achieve any closings above SMA20 this week, while 123.15-Fibonacci of 76.4%- has played as a hard obstacle that we can depend on to suggest potential downside movements today.
Support of 122.20 is in focus now, as a break below it will strengthens the negative signs appearing on ADX; noting that, RSI14 attempts to breach 50.00 levels for the first time since November 01.
Support: 122.20-121.70-121.40
Resistance: 122.45-122.80- 123.15
Direction: Bearish
Struggle continues near 1.0260 where 113% Fibonacci exists as seen on the provided daily chart.
Despite the overbought sign on RSI, but there is no change of reversal yet and therefore, we will be bullish, aiming to hit 113% Fibonacci soon.
Only coming back below 1.0150 will change the intraday bullishness, but will not change the short-term direction.
Support: 1.0200-1.0150-1.0130
Resistance: 1.0260-1.0285-1.0320
Direction: Bullish
A strong contradiction is now seen on EUR/USD, as trading stabilizes below moving averages, but above 1.0600.
ADX is positive, but RSI moves below 50.00 levels in a neutral mode. Thus, we will be neutral today, while coming below 1.0600 will trigger bearish actions and we will update once a reliable sign appears.
Support: 1.0600 – 1.0570 – 1.0500
Resistance: 1.0700 –1.0730 – 1.0780
Direction: Bearish below 1.0600
GBP/USD moves strongly to the downside following the stable move below moving averages. ADX is negative and also RSI shows bearish tendency.
Therefore, we will be bearish as far as 1.5145 holds and a break below 1.50-1.4985 will extend the bearishness.
Support: 1.0525 – 1.0500 – 1.4985
Resistance: 1.0660 –1.0700 – 1.0730
Direction: Neutral