USDJPY and Crude Oil are bright spots today amidst widespread declines.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: further advance.

Pivot:160.15

Our preference:

Long positions above 160.15 with targets at 160.55 & 160.70 in extension.

Alternative scenario:

Below 160.15 look for further downside with 160.00 & 159.85 as targets.

Comment:

The RSI is bullish and calls for further upside.

EURUSD

EUR/USD intraday: the downside prevails.

Pivot:1.1575

Our preference:

Short positions below 1.1575 with targets at 1.1500 & 1.1480 in extension.

Alternative scenario:

Above 1.1575 look for further upside with 1.1595 & 1.1615 as targets.

Comment:

The RSI is bearish and calls for further downside.

GBPUSD

GBP/USD intraday: towards 1.3305.

Pivot:1.3410

Our preference:

Short positions below 1.3410 with targets at 1.3330 & 1.3305 in extension.

Alternative scenario:

Above 1.3410 look for further upside with 1.3430 & 1.3450 as targets.

Comment:

The RSI advocates for further decline.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: towards 91.50.

Pivot:87.50

Our preference:

Long positions above 87.50 with targets at 90.40 & 91.50 in extension.

Alternative scenario:

Below 87.50 look for further downside with 86.00 & 84.65 as targets.

Comment:

The RSI calls for a bounce.

GOLD

Gold intraday: under pressure.

Pivot:4275

Our preference:

Short positions below 4275 with targets at 4200 & 4155 in extension.

Alternative scenario:

Above 4275 look for further upside with 4310 & 4353 as targets.

Comment:

The RSI has broken down its 30 level.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: watch 50220.

Pivot:51300

Our preference:

Short positions below 51300 with targets at 50220 & 49900 in extension.

Alternative scenario:

Above 51300 look for further upside with 51575 & 51750 as targets.

Comment:

The RSI is around its neutrality area at 50%

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: aim @ 28570.

Pivot:29260

Our preference:

Short positions below 29260 with targets at 28570 & 28230 in extension.

Alternative scenario:

Above 29260 look for further upside with 29740 & 30250 as targets.

Comment:

The RSI is below its neutrality area at 50%

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: choppy.

Pivot:7422

Our preference:

Short positions below 7422 with targets at 7305 & 7245 in extension.

Alternative scenario:

Above 7422 look for further upside with 7470 & 7528 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.