Our intraday forex analysis includes USDJPY analysis, EURGBP, and NAS 100, highlighting key support and resistance levels for each pair.
EURGBP stuck sideways
Our EURGBP analysis shows The Euro looks poised to halt its slide as price action continues to consolidate. On the chart, the recent lower spike has bounced prices back above the 0.8700 region.
- As the RSI returns to the neutral area, an upside follow-through could be expected.
- Above 0.8700, there is anticipation of renewed momentum towards 0.8740.
- 0.8690 remains a firm support if prices slide further.
USDJPY hits resistance
The greenback hit a sharp turnaround as sentiment shifted once again. A bearish reversal shows that the Yen recovery is on track, as the pair failed to break the previous swing high.
- A confirmation break above 159.00 would suggest that bulls are still lingering.
- A close above 160.00 would seal the deal.
- March’s high of 160.50 would be the next resistance.
- 158.00 at the base of the recent recovery is the closest support should price action stumble.
NAS 100 remains elevated
The Nasdaq moved further away from its multi-month low as buyers showed their support for the index.
- A break above 24500 has attracted more buying interest with the RSI pushing higher.
- 25000 is the first level at which sellers are expected to step in, and sentiment could turn around if prices begin retreating towards 24200.
With more upside expected, other global indices could follow suit in hopes of a complete ceasefire in the Middle East
