The USD/JPY has moved to the downside once again, re-testing SMA20 at 108.55 zones before moving higher again in the last hour.
We will be neutral now to see whether the pair will clear the initial resistance of 109.15-109.30 or not; noting that, technical indicators are in a neutral mode.
Trading between SMA20 and SMA50 is a sign of neutrality.
The intersection point of moving averages 20 and 50 at 0.9680 has played a big role in sending the USDCHF higher once again to currently attacks 0.9725-0.9730 resistance zone.
With positive signals on ADX and RSI, we will be bullish today, aiming to challenge 0.9805 followed by 0.9835.
EURO stabilized below SMA20 at 1.1370 after clearing 88.6% Fibonacci at 1.1385.
The bearish tendencies may continue with a negative crossover on ADX, targeting 1.128, while coming below 78.6% will be more negative.
Support: : 1.1310 – 1.1285 – 1.1225
Resistance: 1.1385 –1.1445 – 1.1500
GBP/USD declined, touching 50% Fibonacci at 1.4385, while ADX turns into negativity along with RSI edging lower.
The above-mentioned factors are bearish and could send the pair towards 1.4295 where 61.8% Fibonacci exists.
On the upside, coming above 1.4480 will negate.
Support: 1.4385 – 1.4345 – 1.4295
Resistance: 1.4440 – 1.4480 – 1.4525