USD/JPY Closes Below 120.95-121.05; EUR/USD Nominally Corrects Decline
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.
Direction: Bullish with a closing above 121.05.
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.
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
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