Sample Category Title

Pivot (invalidation): 2868.00

Our preference Long positions above 2868.00 with targets at 2887.00 & 2898.00 in extension.

Alternative scenario Below 2868.00 look for further downside with 2854.00 & 2842.00 as targets.

Comment A support base at 2868.00 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 11945.00

Our preference Long positions above 11945.00 with targets at 12040.00 & 12095.00 in extension.

Alternative scenario Below 11945.00 look for further downside with 11885.00 & 11810.00 as targets.

Comment The break above 11945.00 is a positive signal that has opened a path to 12040.00.

Pivot (invalidation): 6.4350

Our preference Long positions above 6.4350 with targets at 6.5000 & 6.5400 in extension.

Alternative scenario Below 6.4350 look for further downside with 6.3940 & 6.3700 as targets.

Comment The RSI calls for a rebound.

Pivot (invalidation): 0.7130

Our preference Short positions below 0.7130 with targets at 0.7095 & 0.7065 in extension.

Alternative scenario Above 0.7130 look for further upside with 0.7150 & 0.7170 as targets.

Comment A break below 0.7095 would trigger a drop towards 0.7065.

Pivot (invalidation): 1.3175

Our preference Short positions below 1.3175 with targets at 1.3130 & 1.3110 in extension.

Alternative scenario Above 1.3175 look for further upside with 1.3200 & 1.3225 as targets.

Comment The RSI shows downside momentum.

Pivot (invalidation): 0.9735

Our preference Long positions above 0.9735 with targets at 0.9765 & 0.9785 in extension.

Alternative scenario Below 0.9735 look for further downside with 0.9720 & 0.9700 as targets.

Comment The break above 0.9735 is a positive signal that has opened a path to 0.9765.

Pivot (invalidation): 111.05

Our preference Long positions above 111.05 with targets at 111.65 & 111.85 in extension.

Alternative scenario Below 111.05 look for further downside with 110.85 & 110.70 as targets.

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

Pivot (invalidation): 1.2980

Our preference Long positions above 1.2980 with targets at 1.3065 & 1.3100 in extension.

Alternative scenario Below 1.2980 look for further downside with 1.2940 & 1.2905 as targets.

Comment The RSI advocates for further upside.

Pivot (invalidation): 1.1600

Our preference Short positions below 1.1600 with targets at 1.1565 & 1.1545 in extension.

Alternative scenario Above 1.1600 look for further upside with 1.1615 & 1.1630 as targets.

Comment The upward potential is likely to be limited by the resistance at 1.1600.

Daily Pivots: (S1) 128.11; (P) 128.59; (R1) 129.32; More....

EUR/JPY's strong rebound from 127.85 argues that fall from 130.86 might be completed. And, the three wave corrective structure in turn suggests that rise from 124.89 is still in progress. On the upside, break of 129.97 will target 130.86 first. Break will confirm this bullish case and target key fibonacci resistance at 132.56. On the downside, though, break of 127.85 will extend the fall from 130.86 instead.

In the bigger picture, as long as 124.08 key resistance turned support, larger up trend from 109.03 (2016 low) remains in favor to continue. Decisive break of 61.8% retracement of 137.49 to 124.61 at 132.56 will pave the way to retest 137.49 high. However, firm break of 124.08 will argue that whole rise from 109.03 (2016 low) has completed at 137.49. Deeper decline would be seen to 61.8% retracement of 109.03 to 137.49 at 119.90 next.