USD/JPY 4-hour: Reached and surpassed the target at 119.14

8:30 am (EST) Update

EUR/USD 4-hour: Moving up.

Invest Diva positioning: Long positions above 1.0973 with targets at 1.1092 and 1.1239 in extension.

Technical reasons why: The pair broke above the pivot level at the 50% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 1.0973 look for further downside with 1.0854 and 1.0613.

Where I’m setting my stops and limits:

AUD/USD 4-hour: Failed to break above the key resistance level.

Invest Diva positioning: Long positions above 0.7904 with targets at 0.7985 and 0.8086 in extension.

Technical reasons why: The pair failed to break above the key resistance level at the 50% Fibonacci but is rebounding from the 38% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.

Alternative Scenario: Below 0.7823 look for further downside with 0.7722 and 0.7648.

Where I’m setting my stops and limits:

USD/CHF 4-hour: Continues to move down.

Invest Diva positioning: Short positions below 0.9691 with targets at 0.9425 and 0.9210 in extension.

Technical reasons why: The pair continues to move down towards to our first bearish target at the 38% Fibonacci level below the Ichimoku’s cloud. The RSI keeps below the neutrality area.

Alternative Scenario: Above 0.9691 look for further upside with 0.9990 and 1.0121.

Where I’m setting my stops and limits:

USD/JPY 4-hour: Reached the target.

Invest Diva positioning: Short positions below 119.14 with targets at 118.26 and 117.25 in extension.

Technical reasons why: The pair reached and surpassed our first bearish target at the 76% Fibonacci level as continuing to move down below the Ichimoku’s cloud. The RSI is at over-bought zone.

Alternative Scenario: Above 119.14 look for further upside with 119.62 and 120.13.

Where I’m setting my stops and limits:

Kiana Danial

#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.