Buy USDJPY & Oil; Sell EUR, GBP, Gold & Indices

MARKET ANALYSIS

USDJPY

USD/JPY intraday : Target level as a potential turning point

Our pivot point is at 153.56.

Our preference:

The upside prevails as long as 153.56 is support, with 154.81 and 155.15 as targets

Alternative scenario:

Below 153.56, expect 152.98 and 152.64.

Comment:

As prices near our first target, a throwback could occur, though a clean break above could fuel further gains.

EURUSD

EUR/USD intraday : 1.1533 in sight

Our pivot point is at 1.1570.

Our preference:

The downside prevails as long as 1.1570 is resistance, with 1.1533 and 1.1523 as targets

Alternative scenario:

Above 1.1570, look for 1.1586 and 1.1596.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands above its 20 period moving average (1.1549) but below its 50 period moving average (1.1557).

GBPUSD

GBP/USD intraday : Pivot threshold in sight

Our pivot point is at 1.3515.

Our preference:

The downside prevails as long as 1.3515 is resistance, with 1.3463 and 1.3451 as targets

Alternative scenario:

Above 1.3515, look for 1.3535 and 1.3548.

Comment:

The asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (X6)‎ intraday: aim @ 100.00.

Pivot:

96.00

Our preference:

Long positions above 96.00 with targets at 100.00 & 101.40 in extension.

Alternative scenario:

Below 96.00 look for further downside with 94.80 & 93.50 as targets.

Comment:

The RSI is below its neutrality area at 50% but reversing up.

GOLD

Gold intraday : Look for 4,212

Our pivot point is at 4,326.

Our preference:

The downside prevails as long as 4,326 is resistance, with 4,212 and 4,182 as targets

Alternative scenario:

Above 4,326, look for 4,377 and 4,407.

Comment:

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 4,295 and 4,309).

DOW JONES

Dow Jones (CME)‎ (Z6)‎ intraday: choppy.

Pivot:

53110

Our preference:

Short positions below 53110 with targets at 52640 & 52400 in extension.

Alternative scenario:

Above 53110 look for further upside with 53350 & 53550 as targets.

Comment:

As long as 53110 is resistance, look for choppy price action with a bearish bias.

NASDAQ 100

Nasdaq 100 (CME)‎ (Z6)‎ intraday: towards 29100.

Pivot:

29680

Our preference:

Short positions below 29680 with targets at 29400 & 29100 in extension.

Alternative scenario:

Above 29680 look for further upside with 29800 & 29900 as targets.

Comment:

The RSI is above its neutrality area at 50% but reversing down.

S&P 500

S&P 500 (CME)‎ (Z6)‎ intraday: range.

Pivot:

7730

Our preference:

Short positions below 7730 with targets at 7650 & 7623 in extension.

Alternative scenario:

Above 7730 look for further upside with 7750 & 7770 as targets.

Comment:

The RSI is mixed and calls for caution.