Source: PaxForex Premium Analytics Portal, Technical Insight
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USD/JPY, 30 min
Pivot: 102.75
Analysis:
Provided that the currency pair is traded above 102.55, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 102.75
- Take Profit 1: 102.95
- Take Profit 2: 103.10
Alternative scenario:
In case of breakdown of the level 102.55, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 102.55
- Take Profit 1: 102.40
- Take Profit 2: 102.25
Comment:
Technically RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 103.30 | 102.55 |
| 103.10 | 102.40 |
| 102.95 | 102.25 |
USD/JPY, D1
Pivot: 103.14
Analysis:
While the price is below 104.60, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 103.14
- Take Profit 1: 101.15
- Take Profit 2: 100.00
Alternative scenario:
If the level 104.60 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 104.60
- Take Profit 1: 105.50
- Take Profit 2: 106.50
Comment:
RSI shows a medium-term downtrend.
Key levels:
| Resistance | Support |
| 106.50 | 101.15 |
| 105.50 | 100.00 |
| 104.60 | 90.50 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – buy above 1.2275 with 1.2355 and 1.2380 as Take Profit targets. Alternative scenario - if the level of 1.2275 is broken-down, you should consider selling with the targets 1.2255 and 1.2240 as Take Profit.
GBP/USD - long positions above 1.3580 with 1.3670 and 1.3700 targets as Take Profit. Alternative scenario - if the level of 1.3580 is broken-down, sell with the targets 1.3550 and 1.3525 as Take Profit.
USD/CHF - sell below 0.8805 with 0.8755 and 0.8740 targets as Take Profit. Alternative scenario - if the level 0.8805 is broken-out, buy with the TP 0.8820 and 0.8845.
