Yen up, Pound down, Oil bouncing, and Gold? Playing hard to get.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: towards 158.60.

Pivot:157.95

Our preference:

Long positions above 157.95 with targets at 158.60 & 158.90 in extension.

Alternative scenario:

Below 157.95 look for further downside with 157.70 & 157.45 as targets.

Comment:

The break above 157.95 is a positive signal that has opened a path to 158.60.

EURUSD

EUR/USD intraday: towards 1.1640.

Pivot:1.1695

Our preference:

Short positions below 1.1695 with targets at 1.1640 & 1.1615 in extension.

Alternative scenario:

Above 1.1695 look for further upside with 1.1720 & 1.1745 as targets.

Comment:

The RSI has broken down its 30 level.

GBPUSD

GBP/USD intraday: aim @ 1.3335.

Pivot:1.3465

Our preference:

Short positions below 1.3465 with targets at 1.3335 & 1.3300 in extension.

Alternative scenario:

Above 1.3465 look for further upside with 1.3510 & 1.3550 as targets.

Comment:

The RSI has broken down its 30 level.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (M6)‎ intraday: look for 103.70.

Pivot:100.00

Our preference:

Long positions above 100.00 with targets at 103.70 & 104.75 in extension.

Alternative scenario:

Below 100.00 look for further downside with 98.00 & 96.30 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold intraday: key resistance at 4690.

Pivot:4690

Our preference:

Short positions below 4690 with targets at 4640 & 4620 in extension.

Alternative scenario:

Above 4690 look for further upside with 4710 & 4725 as targets.

Comment:

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: intraday support around 49950.

Pivot:49950

Our preference:

Long positions above 49950 with targets at 50270 & 50440 in extension.

Alternative scenario:

Below 49950 look for further downside with 49810 & 49675 as targets.

Comment:

The RSI calls for a new upleg.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: expect 30200.

Pivot:29440

Our preference:

Long positions above 29440 with targets at 30000 & 30200 in extension.

Alternative scenario:

Below 29440 look for further downside with 29280 & 29050 as targets.

Comment:

The RSI is mixed to bullish.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: expect 7578.

Pivot:7478

Our preference:

Long positions above 7478 with targets at 7550 & 7578 in extension.

Alternative scenario:

Below 7478 look for further downside with 7452 & 7430 as targets.

Comment:

The RSI is bullish and calls for further advance.