USD/JPY has showed very little change, forming a small candlestick yesterday; however, the closing was achieved again above 76.4% Fibonacci level.
All eyes are on 123.55-123.60, as a break above these levels will indicate potential upside rally resumption.
Anyway, we remain bullish on the USDJPY pair due to stability above important Fibonacci level, while RSI14 may cause fluctuation without a change in the direction.
Support: 123.20-122.80-122.50
Resistance: 123.60-124.15-124.40
Direction: Bullish
Despite the overbought signs on momentum indicators, but the USD/CHF pair succeeded in achieving a daily closing above 100% Fibonacci at 1.0125 as seen on the provided daily chart.
More upside actions are to be witnessed, while 113% Fibonacci at 1.0265 could be the soft target for bulls now.
Only a break back below 1.0050 support may limit the positivity.
Support: 1.0100-1.0050-0.9990
Resistance: 1.0175-1.0200-1.0260
Direction: Bullish
Trading below 113% Fibonacci at 1.0660-1.0665 suggests potential downside wave resumption, targeting 127.2% Fibonacci.
ADX shows some weakness in the downtrend, but the overall bearish classical pattern remains valid in addition to the negativity on moving averages.
A break above 1.0785 will cancel out the bearish scenario.
Support: 1.0610 – 1.0570 – 1.0530
Resistance: 1.0680 –1.0710 – 1.0785
Direction: Bearish
Sharp fluctuation has been seen on the GBP/USD pair within a tight range that damaged the bearish outlook yesterday with moving below 1.5205 again.
We can’t suggest a direction now and we will be neutral until the pair proves clearing 1.5170, as risk versus reward ratio is inappropriate.
Note, a four-hour closing above 1.5230 will trigger more upside actions.
Support: 1.5170 – 1.5135 – 1.5100
Resistance: 1.5260 – 1.5315 – 1.5395
Direction: Neutral