USD/JPY Moves To The Downside; GBP/USD Inclines


USD/JPY has moved to the downside, respecting our yesterday’s proposed bearish scenario.

USD/JPY Daily Chart

Currently, the pair is attacking a very tough support at 110.70, which should be cleared decisively to affirm resuming the downside correction.

SMA50 should act as a ceiling for bear, while 110.30 is the major key for intraday bulls and hitting it will re-new the bearishness.

Support: 110.80-110.30-110.00

Resistance: 111.60-112.15-112.80

Direction: Neutral today


USD/CHF has moved to the downside as anticipated yesterday, but the trading range remains very tight since the opening of the week.

USD/CHF Daily Chart

SMA50, which resides just a few pips above 38.2% has protected the pair from more declines yesterday, while other technical indicators give off mixed signals.

We will be neutral today as far as trading remains between 0.9725 and 0.9795.

Support: 0.9725-0.9680-0.9630

Resistance: 0.9785-0.9835-0.9900

Direction: Neutral


EURO moved within a tight range in Asian session and is currently hovering near 1.1255, which could be the key for bearishness today.

EUR/USD Daily Chart

RSI moves below 50.00, but ADX shows weak signals and thus, we need to see the pair below 1.1255 to target 1.1165 and a break of which will accelerate as far as 1.1315 hold.

Support: : 1.1255 – 1.1200 – 1.1160

Resistance: 1.1315 –1.1375 – 1.1450

Direction: Bearish


GBP/USD inclined, trading above 1.4515, which is positive and would extend the bullishness.

GBP/USD 4-Hour Chart

Areas of 1.4580-1.4585 represent the key for today’s trading a and failure to hit this level will make us close all open positions.

Anyway, we will be bullish as far as 1.4455 hold.

Support: 1.4415 – 1.4405 – 1.4360

Resistance: 1.4585 – 1.4600 – 1.4655

Direction: Bullish

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