One Winner, Many Losers: USDJPY Stands Alone

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Key resistance level approaches

Our pivot point is at 155.05.

Our preference:

The upside prevails as long as 155.05 is support, with 156.62 and 156.97 as targets

Alternative scenario:

Below 155.05, expect 154.46 and 154.11.

Comment:

Prices are now within reach of our first target, a level that could invite the price to consolidate. On the flip side, a clear break above it may well sustain the upward move.

EURUSD

EUR/USD intraday : Rebound or deeper decline ahead？

Our pivot point is at 1.1512.

Our preference:

The downside prevails as long as 1.1512 is resistance, with 1.1452 and 1.1442 as targets

Alternative scenario:

Above 1.1512, look for 1.1527 and 1.1537.

Comment:

Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.

GBPUSD

GBP/USD intraday : Watching for a Trigger Below Support

Our pivot point is at 1.3427.

Our preference:

The downside prevails as long as 1.3427 is resistance, with 1.3357 and 1.3345 as targets

Alternative scenario:

Above 1.3427, look for 1.3448 and 1.3460.

Comment:

Prices are now edging toward our first target. Should this level be reached, a pullback is likely to surface; yet a convincing break below it could open the door to further losses.

CRUDE OIL

Crude Oil (WTI)‎ (X6)‎ intraday: 94.80 in sight.

Pivot:

99.50

Our preference:

Short positions below 99.50 with targets at 94.80 & 92.00 in extension.

Alternative scenario:

Above 99.50 look for further upside with 101.60 & 103.00 as targets.

Comment:

The RSI is bearish and calls for further decline.

GOLD

Gold intraday : Look for 4,175

Our pivot point is at 4,327.

Our preference:

The downside prevails as long as 4,327 is resistance, with 4,175 and 4,145 as targets

Alternative scenario:

Above 4,327, look for 4,378 and 4,409.

Comment:

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 4,305 and 4,315).

DOW JONES

Dow Jones (CME)‎ (Z6)‎ intraday: key resistance at 52440.

Pivot:

52440

Our preference:

Short positions below 52440 with targets at 51560 & 51300 in extension.

Alternative scenario:

Above 52440 look for further upside with 52820 & 53100 as targets.

Comment:

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

NASDAQ 100

Nasdaq 100 (CME)‎ (Z6)‎ intraday: key resistance at 29600.

Pivot:

29600

Our preference:

Short positions below 29600 with targets at 29050 & 28830 in extension.

Alternative scenario:

Above 29600 look for further upside with 29800 & 29900 as targets.

Comment:

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

S&P 500

S&P 500 (CME)‎ (Z6)‎ intraday: key resistance at 7700.

Pivot:

7700

Our preference:

Short positions below 7700 with targets at 7580 & 7557 in extension.

Alternative scenario:

Above 7700 look for further upside with 7720 & 7750 as targets.

Comment:

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