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USD/JPY Closes Below 120.95-121.05; EUR/USD Nominally Corrects Decline

USD/JPY Closes Below 120.95-121.05; EUR/USD Nominally Corrects Decline

USD/JPY

Despite the sharp inclines seen after FOMC yesterday, USD/JPY closed below 120.95-121.05 zones.

USD/JPY Daily Chart

Stability above moving averages is a positive catalyst despite the unclear signs on RSI and ADX.

Anyway, we may join bulls if we witness at least four-hour closing above 121.05.

On the downside, coming below moving averages will negate any upside probabilities.

Support:120.50-120.00-119.60

Resistance: 121.05-121.40-121.75

Direction: Bullish with a closing above 121.05.

USD/CHF

USD/CHF continued to achieve the upside targets we defined with the opening of this week after hitting all Fibonacci resistances as seen on the provided daily chart.

USD/CHF Daily Chart

All eyes are now on 1.0000 psychological where 88.6% level exists.

RSI should cause some kind of fluctuation, but we don’t think it will change the bullish direction.

Support:0.9900-0.9860-0.9805

Resistance: 0.9965-1.0000-1.0050

Direction: Bullish

EUR/USD

EUR/USD is normally correcting yesterday’s sharp decline, while shaky signs appear on technical indicators, but moving averages remain negative with stability below 127.2% Fibonacci.

EUR/USD 4 Hour Chart

Trading below 1.0995 keeps the bearish anticipations available towards the golden ratio at 1.0860.

The key resistance resides at 1.1055 for intraday traders.

Support: 1.0910 – 1.0860 – 1.0820

Resistance: 1.0980 –1.1000 – 1.1055

Direction: Bearish

GBP/USD

GBP/USD is slightly correcting the bearish actions seen yesterday, but trading remains below 1.5315 along with negativity on ADX and moving averages.

GBP/USD 4 Hour Chart

More bearishness to be witnessed and a break below 1.5235 will affirm.

Support: 1.5235 – 1.5200 – 1.5175

Resistance: 1.5275 – 1.5315 – 1.5380

Direction: Bearish

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