Finally, USD/JPY succeeded in achieving a daily closing above 121.00-121.05 regions.
USD/JPY Daily Chart
This is a positive catalyst and would assist bulls to continue their northern trip, while the key resistance resides at 121.75.
A break above 121.75 will trigger more buying interests, while 120.40 should be the intraday defensive level.
In line with our yesterday’s continuous technical updates, the USD/CHF has moved bullishly after stabilizing above 76.4% Fibonacci as seen on the provided daily chart.
USD/CHF Daily Chart
Yesterday, moving averages 20 and 50 have overlapped positively, and that would assist bulls to take the pair toward the parity levels and may extend towards 1.0050 over intraday basis.
On the downside, 0.9835 becomes the interim support.
Euro moved bearishly, influenced by moving below 1.0980, which keeps the bearish scenario available today.
EUR/USD 4 Hour Chart
Moving averages are now covering the movements, while ADX shows increase in the bears’ power. Also, RSI14 resumed its downside tendency and thus, we believe that 1.0860 becomes in focus.
Resistance: 1.1055 –1.1105 – 1.1150
GBP/USD hovers around moving averages and above 1.5405, which is a positive catalyst along with bullish sign on ADX.
GBP/USD 4 Hour Chart
The obstacle resides at 1.5450 and 1.5505, but we will be bullish today due to stability above 1.5340 support.
A break above 1.5440 is required to affirm the bullish scenario, while failure to clear those levels will bring neutrality back.
Support: 1.5405 – 1.5370 – 1.5305
Resistance:1.5475 – 1.5505 – 1.5575