USD/JPY has showed some kind of slow movements after fluctuating slightly yesterday, but the closing was achieved below 76.4% Fibonacci and below SMA20 as seen on the provided daily chart.
This closing may motivate traders to be bearish , but as we know the US markets will be off today and that will make the liquidity weak and risk very high.
So that, we prefer to avoid trading the USDJPY pair today; noting that, coming back below 122.30-122.20 support may weaken 121.80 Fibonacci support.
Support: 122.30-121.70-121.40
Resistance: 123.15- 123.60-123.85
Direction: Neutral
The USD/CHF has touched one of our short-term targets near 1.0260 where 113% Fibonacci exist.
This touch for a resistance level caused some fluctuation, but didn’t change the bullishness.
It seems from the candlesticks formations that, the pair will hit the 1.0260 regions on the way towards next resistance at 1.0320 and may be 1.0410 over short-term basis.
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
The trading range became tight since the Asian session, but the pair continues to trade below the main resistance line of the bear trend and below moving averages.
RSI14 shows weakness in the downtrend, while RSI is neutral, which argue us to wait until the pair clears 1.0600 again to affirm the bearishness.
Support: 1.0600 – 1.0570 – 1.0500
Resistance: 1.0700 –1.0730 – 1.0780
Direction: Bearish below 1.0600
The bullish recovery seen yesterday near SMA20 didn’t change the bearish signal on ADX, while RSI14 started to move downwards below the value of 50.00.
Hence, we may witness a new attempt to inch lower as far as 1.5180 holds, while a break below 1.5090 will strengthens the bearish outlook.
Support: 1.5090 – 1.5060 – 1.5000
Resistance: 1.5145 – 1.5180 – 1.5220
Direction: Bearish