Our technical target at 110.65 has been delivered today, as USD/JPY plummeted aggressively during the Asian session as anticipated.
The bearishness remains favored after clearing 111.60 - support turned into resistance - and the strong negative signals on technical indicators.
The key psychological level of 110.00 should be cleared to expose next support areas at 109.35.
Support: 110.00-109.80-109.35
Resistance: 110.80-111.15-111.65
Direction: Bearish
USD/CHF has been trading within the same trading range, consolidating around 88.6% Fibonacci at 0.9575, without showing the ability to breach or to bounce.
RSI is currently touching the oversold value of 30.00 and that should bring strong fluctuation.
It is better to avoid trading the pair now until it presents more reliable signals.
Support: 0.9550-0.9500-0.9460
Resistance: 0.9600-0.9690-0.9720
Direction: Neutral
Euro moves near the important level of 1.1375 where 100% Fibonacci exists, along with ADX and moving averages positive tendencies.
RSI moves lower after touching the value of 70.00 and thus, we may witness some corrections, but trading above 1.1315 - 1.1310 keeps the bullishness available.
The confirmation comes with a break above 1.1445 -1.1450.
Support: : 1.1360 – 1.1310 – 1.1255
Resistance: 1.1450 –1.1500 – 1.1525
Direction: Bullish
Despite achieving upside actions above 1.4285 the pair has moved strongly to the downside, below moving averages at 50% Fibonacci around 1.4230.
Breaching 1.4230 is negative, supported by ADX and RSI, and we will follow through as far as 1.4285 holds.
On the upside, coming above 1.4330 will cause failure.
Support: 1.4200 – 1.4160 – 1.4115
Resistance: 1.4235 – 1.4285 – 1.4340
Direction: Bearish