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JPY Trades Bullishly, EUR/USD Trades Bearishly At 1.1095

JPY Trades Bullishly, EUR/USD Trades Bearishly At 1.1095

USD/JPY

In the U.S. session report yesterday, we said that USD/JPY might have found support at the corrective uptrend line seen on the chart.

USD/JPY Chart

The pair has moved upwards after failing to reach 112.40 and the daily closing was achieved above SMA20 at 113.25.

We are bullish now; noting that a new breakout above 113.60-113.70 will expose 114.00 and 114.60 respectively.

Also, this awaited break may fix the neutral signs on RSI.

Support: 113.00-112.40-112.00

Resistance: 114.00-114.60-115.00

Direction: Bullish

USD/CHF

Between 61.8% Fibonacci from the underside at 0.9797 and 50% Fibonacci from the topside at 0.9898, the USD/CHF continued to consolidate.

USD/CHF Chart

The coverage from SMA20 and SMA50 is seen as a negative catalyst, but finding support above 61.8% makes risk versus reward ratio inappropriate today.

We will be neutral, but coming below 0.9840 may expose 0.9797 later, while sellers should be protected by 0.9940-0.9950 zones.

Support: 0.9840-0.9800-0.9760

Resistance: 0.9900-0.9925-0.9950

Direction: Neutral

GBP/USD

GBP/USD stabilized below 1.4150 –Fibonacci of 38.2%- along with bearish signals on RSI and ADX, while RSI is close to 30.00 levels, but it continued to move lower.

GBP/USD Chart

Trading below 1.4150 will extend the negative actions towards 1.4030 and maybe 1.4000 followed by 1.3940.

Support: 1.4060 – 1.4030 – 1.3940

Resistance: 1.4150 – 1.4200 – 1.4250

Direction: Bearish

EUR/USD

Euro traded bearishly below 50% Fibonacci at 1.1095-1.1100 along with negativity on ADX and RSI moving below 50.00.

EUR/USD Chart

Hence, we will be bearish, but there are two obstacles at 1.1050 and 38.2% Fibonacci at 1.1030.

Failure to breach those levels will make us close any open positions and be neutral again.

On the upside, a break above 1.1125 will weaken the bearishness.

Support: : 1.1050 – 1.1030 – 1.0950

Resistance: 1.1125 –1.1165 – 1.1200

Direction: Bearish

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