The pair failed to stabilize above 76.4% Fibonacci at 123.15 yesterday, achieving a negative closing.
Although, this is not a good signal for buyers, but the USD/JPY is currently touching SMA20, which is a very sensitive level.
RSI14 is still moving above 50.00 levels despite the slight decline seen in the Asian session, while ADX remains positive despite showing signs of weakness.
These signals contradict with moving below 123.15 and therefore, we will be neutral now.
Support: 122.60-122.10-121.70
Resistance: 123.15- 123.60-124.15
Direction: Sideways
Overbought signs on RSI14 continued to prevent the USD/CHF pair from soaring towards 113% Fibonacci level at 1.0260 and beyond.
However, we still depend on stable move above 100% level at 1.0125 and moving averages to be bullish.
Only , a breakout below 1.0100 will weaken the intraday positive chances, while coming below SMA20 at 1.0065 will damage the outlook.
Support: 1.0170-1.0050-0.9990
Resistance: 1.0260-1.0290-1.0325
Direction: Bullish
For the second session, trading remains very weak on EUR/USD, but still below moving averages and within the major bearish direction over short-term basis.
Hence, we hold onto bearish scenario, but we need a break below 1.0615 and 1.0600 to affirm.
We will not take any positions until the pair takes out these levels, while 1.0730 is the ceiling foe any shorts.
Support: 1.0600 – 1.0570 – 1.0500
Resistance: 1.0660 –1.0700 – 1.0730
Direction: Bearish below 1.0600
GBP/USD attempts to incline, while the bearish direction becomes weaker and RSI attempts to incline.
These signals contradict with the stable move below moving averages along with stability below 1.5180.
Moving below 1.5140 affirms the bearish outlook.
Support: 1.5120 – 1.5090 – 1.5060
Resistance: 1.5180 – 1.5220 – 1.5260
Direction: Bearish