USD/JPY closed over daily basis below 76.4% Fibonacci, while traders are currently taking it back toward 123.15 zones today again despite negative signs on RSI and ADX.
These signs contradict with the stable move above moving averages 20 and 50.
In result, we prefer to stand aside today to see whether the pair will hit 76.4% again or not.
On the downside, coming below 122.50 will be a bearish signal.
- Support: 122.80-122.60-122.10
- Resistance:123.15- 123.60-124.15
- Direction: Neutral
USD/CHF has formed the second long upper shadow on yesterday’s candlestick, but couldn’t clear 100% Fibonacci level.
In the interim, overbought signs continued despite showing signs of stability inside overbought regions.
We will depend only on the strength of 100% Fibonacci to suggest potential upside actions over intraday basis. Fibonacci of 113% is targeted.
- Support: 1.0100-1.0050-0.9990
- Resistance: 1.0175-1.0200-1.0260
- Direction: Bullish
During the Asian session, EURO has been trading between SMA20 and SMA50, but above resistance line.
ADX shows weak signals, while RSI moves bearishly above 50.00 levels and thus, with trading below 1.0730 and above 1.0685, we are neutral.
- Support: 1.0685 – 1.0660 – 1.0610
- Resistance: 1.0730 –1.0800 – 1.0825
- Direction: Sideways
The positive crossover seen on moving averages contradicts with the weakness on ADX, but we are still witnessing stable move above 1.5260.
The bullishness remains available with another breakout above 1.5315-1.5320 to fix ADX, while coming below 1.5205 will negate the suggested bullish outlook.
- Support: 1.5260 – 1.5205 – 1.5170
- Resistance: 1.5320 – 1.5395 – 1.5440
- Direction: Bullish