Sample Category Title

Pivot (invalidation): 1391.50

Our preference Long positions above 1391.50 with targets at 1399.00 & 1403.50 in extension.

Alternative scenario Below 1391.50 look for further downside with 1387.00 & 1381.50 as targets.

Comment The RSI is mixed and calls for caution.

Daily Pivots: (S1) 121.64; (P) 121.89; (R1) 122.24; More....

Outlook in EUR/JPY is unchanged and intraday bias remains neutral first. We're favoring the case that consolidation from 120.78 has completed with three waves to 123.35. Below 121.31 will target retest of 120.78 first. Break will resume fall from 127.50 to 118.62 low. In case of another rise as consolidation from 120.78 extends, upside should be limited by 123.73 resistance to bring fall resumption eventually.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Pivot (invalidation): 2968.00

Our preference Long positions above 2968.00 with targets at 2985.00 & 2994.00 in extension.

Alternative scenario Below 2968.00 look for further downside with 2958.00 & 2943.00 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 12490.00

Our preference Short positions below 12490.00 with targets at 12380.00 & 12336.00 in extension.

Alternative scenario Above 12490.00 look for further upside with 12540.00 & 12575.00 as targets.

Comment Technically the RSI is below its neutrality area at 50.

Pivot (invalidation): 5.6930

Our preference Long positions above 5.6930 with targets at 5.7500 & 5.7860 in extension.

Alternative scenario Below 5.6930 look for further downside with 5.6740 & 5.6470 as targets.

Comment The RSI calls for a bounce.

Pivot (invalidation): 0.6940

Our preference Short positions below 0.6940 with targets at 0.6900 & 0.6885 in extension.

Alternative scenario Above 0.6940 look for further upside with 0.6955 & 0.6975 as targets.

Comment The RSI advocates for further downside.

Daily Pivots: (S1) 0.8966; (P) 0.8984; (R1) 0.9012; More...

Intraday bias in EUR/GBP remains on the upside for 0.9101 key resistance. We'd continue to be cautious on topping there to bring pull back. On the downside, break of 0.8954 support will indicate short term topping. In this case, deeper pull back could be seen to 55 day EMA (now at 0.8850) first.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8527). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

Pivot (invalidation): 1.3105

Our preference Long positions above 1.3105 with targets at 1.3145 & 1.3160 in extension.

Alternative scenario Below 1.3105 look for further downside with 1.3080 & 1.3065 as targets.

Comment The RSI lacks downward momentum.

Pivot (invalidation): 0.9950

Our preference Short positions below 0.9950 with targets at 0.9915 & 0.9895 in extension.

Alternative scenario Above 0.9950 look for further upside with 0.9965 & 0.9980 as targets.

Comment The RSI calls for a drop.

Pivot (invalidation): 108.70

Our preference Long positions above 108.70 with targets at 109.10 & 109.25 in extension.

Alternative scenario Below 108.70 look for further downside with 108.55 & 108.40 as targets.

Comment The RSI calls for a new upleg.