The USDJPY pair has moved bearishly again after touching 120.60-120.70 zones where a triangle has been caught.
We remain bearish over intraday basis, but to be comfortable with the direction, we need a break below 119.65 regions.
On the upside, coming above 120.60 will give us a rational reason for concern.
Support:119.60-119.30-118.80
Resistance:120.40-121.05-121.50
Direction: Bearish
The USDCHF pair has moved bullishly once again, but still hovering around the sensitive level of 61.8% Fibonacci retracement as seen on the provided daily chart.
We just don’t want to go long on the pair due to the sensitivity of the current trading levels despite the positive signs on technical indicators.
A break below 0.9640 may negate the positivity on the chart.
Support: 0.-9680-0.9630-0.9550
Resistance: 0.9770-0.9825-0.9885
Direction: Sideways
EURUSD has declined after breaching the support line of the ascending channel as seen on the provided graph.
The pair is trading around 78.6% Fibonacci at 1.1165, while negativity remains on moving averages and that keeps the bearishness valid as far as 1.1275 holds.
Support: 1.1130 – 1.1085 – 1.1035
Resistance: 1.1200 –1.1230 – 1.1275
Direction: Bearish
GBPUSD has declined, reaching SMA50 as seen on the graph below and is currently attempting to breach this level and 50% Fibonacci level at 1.5490.
The bearishness is available as far as 1.5570 holds ad trading below 1.5490 is a negative signal.
ADX needs this breakout below SMA50 to reflect the bearish prospects.
Support: 1.5415 – 1.5380 – 1.5410
Resistance: 1.5495 – 1.5570 – 1.5620
Direction: Bearish