The USD/JPY has been able to come again above 123.15 zone, which is currently under attack as seen on the provided daily chart.
RSI stabilizes above the value of 50.00, while ADX remains positive and that should bring further upside actions.
But we will not recommend new positions now until the pair proves stability above these levels.
On the downside, 122.60 is the key for intraday bulls, as a break of which will negate any upside scenarios.
Support: 122.80-122.60-122.10
Resistance: 123.60-124.15-124.30
Direction: Bullish, but we will avoid trading until the pair proves the ability to stabilize above 123.15.
USD/CHF moved according to the bullish scenario discussed several times after stabilizing above 1.0125 where 100% Fibonacci exists.
Actually, RSI14 shows extreme case of overbought, but that will not prevent us from being bullish, as the weekly chart remains bullish along with stability above moving averages.
Any fluctuation occurs because of RSI signal should be used by bulls and a break above 113% Fibonacci at 1.0260 will accelerate.
Support: 1.0170-1.0050-0.9990
Resistance: 1.0260-1.0290-1.0325
Direction: Bullish
EUR/USD continued to move lower inside the bearish channel appearing on the chart and below moving averages 20 and 50.
ADX is negative, while RSI moves below 50.00 levels and that would bring further downside actions.
A stable move below 1.0615w will extend the bearishness, but on the upside, 1.0730 is the ceiling, while 1.0660 is the key for intraday bears.
Support: 1.0600 – 1.0570 – 1.0500
Resistance: 1.0660 –1.0700 – 1.0730
Direction: Bearish below 1.0600
GBP/USD faces 61.8$ Fibonacci at 1.5145 after drawing a bearish crossover on moving averages, while ADX shows negative signals.
Hence, we suggest potential downside wave resumption; noting that, 1.50 becomes in focus as far as 1.5220 holds.
Support: 1.5120 – 1.5090 – 1.5060
Resistance: 1.5180 – 1.5220 – 1.5260
Direction: Bearish