USD/JPY continued its decline during the American session yesterday, despite the Wall Street rally. It marked a 4-day low at 108.35 and now remains close to the base of the range. The dollar declined across the whole range as the Fed announced new support measures and the US again published weak data on unemployment claims.
Pivot: 108.43
Provided that the currency pair is traded below 108.60, follow the recommendations below:
In case of broken-out of the level 108.60, follow the recommendations below:
RSI shows the possibility of a downward momentum.
| Resistance | Support |
| 109.00 | 108.15 |
| 108.80 | 107.95 |
| 108.60 | 107.75 |
Pivot: 108.83
While the price is above 107.00, follow the recommendations below:
If the level 107.00 is broken-down, follow the recommendations below.
RSI shows upward momentum.
| Resistance | Support |
| 114.00 | 107.00 |
| 112.25 | 104.70 |
| 110.20 | 102.40 |
EURUSD – buy above 1. 0900 with 1.0960 and 1.0990 as Take Profit targets. Alternative scenario - if the level of 1.0900 is broken-down, you should consider selling with the targets 1.0870 and 1.0840 as Take Profit.
GBP/USD - long positions above 1.2395 with 1.2490 and 1.2540 targets as Take Profit. Alternative scenario - if the level of 1.2395 is broken-down, sell with the targets 1.2360 and 1.2315 as Take Profit.
EUR/GBP - buy above 0.8718 with 0.8848 and 0.8885 targets as Take Profit. Alternative scenario - if the level 0.8718 is broken-down, sell with the TP 0.8657 and 0.8621.
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