USDJPY: The major fell over a percent having a low at 107.40 but manage to hold the Sep 2017 low 107.30. The dollar weakness and the news from Japan hit the price hard.
Bloomberg reported, “The Bank of Japan looks set to stay the course for now, with Haruhiko Kuroda at the helm for another term”.
Today’s pivotal finds at 107.30.
Any pullbacks could face resistance from 109.00-109.30 its 20MA. The bulls must settle above 110.30 in order to perform a rally.
USDCHF: Before retracing to sub-0.9300 levels the other week, the cross has confirmed a top at 0.9430-0.9440 (below chart).
Intraday range remains between 0.9240-0.9440, price trading at the middle of the range.
Medium-term pivotal finds at 0.9240 a break below could open to 0.9200 and 0.9170. A further deep cut could be expected if 0.9170 taken off, in this case, 0.9100 will be the next destination.
On the medium term basis, dip buying favors the trend. Buying between 0.9130-0.9070 sl below 0.9000 target 0.9400.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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