The USD/JPY pair is presently showing bearish tendencies again within the triangle pattern. All what we need is a breakout below 119.60 and preferably 119.40 to affirm the mild bearish tendencies seen during the Asian session.
RSI14 started to edge lower, while ADX is on its way to affirm a strong bearish signal; thus, we may use the sell stop strategies.
On the upside, 120.60 is the protection for sellers.
Support: 119-60-119.35-118.80
Resistance: 120.60-121.05-121.30
Direction: Bearish below 119.60-119.40
Despite the slight upside actions seen yesterday, the USD/CHF pair started to trade below 0.9600 –important Fibonacci support- as seen on the provided daily chart.
USD/CHF remains bearish with coverages from moving averages and the negative momentum appearing on RSI14.
Once the pair comes below 0.9560, the intraday bearishness could be accelerated, while 0.9690 is the new protection for sellers.
Support: 0.9560-9530-0.9500
Resistance: 0.9630-0.9685-0.9725
Direction: Bearish
EUR/USD shows some kind of positivity with trading above moving averages 20 and 50, but still couldn’t stabilize comfortably above 1.1385.
RSI14 shows bearish tendencies, but still moves above 50.00. Therefore, we remain neutral, noting that a break above 1.1420 is a positive signal. On the downside, coming below 1.1280 will negate.
Support: 1.1320 – 1.1280 – 1.1240
Resistance: 1.1385 –1.1420 – 1.1460
Direction: Sideways.
The buy stop order above 1.5390 wasn’t activated and the pair declined sharply after UK data to trade below 1.5270. Any trading below 1.5270 will be a negative signal and coming below 1.5235-1.5230 is very negative.
GBP/USD has moved upwards strongly from moving averages area around 38.2% Fibonacci at 1.5315 and that weakened the negative divergence.
ADX is trying to be positive again, while GBP/USD moves above moving averages. A breakout above 1.5385 is needed to affirm the bullishness, while 1.5280 should hold.
Support: 1.5315 – 1.5270 – 1.5235
Resistance: 1.5385 – 1.5450 – 1.5540
Direction: Bullish above 1.5385