USDJPY and Indices rise this morning, while Euro, Pound, Oil, and Gold are stable.

MARKET ANALYSIS

USDJPY

USD/JPY intraday: further advance.

Pivot:

159.30

Our preference:

Long positions above 159.30 with targets at 159.70 & 159.85 in extension.

Alternative scenario:

Below 159.30 look for further downside with 159.15 & 159.00 as targets.

Comment:

The RSI calls for a bounce.

EURUSD

EUR/USD intraday: towards 1.1590.

Pivot:

1.1645

Our preference:

Short positions below 1.1645 with targets at 1.1605 & 1.1590 in extension.

Alternative scenario:

Above 1.1645 look for further upside with 1.1660 & 1.1675 as targets.

Comment:

The RSI advocates for further downside.

GBPUSD

GBP/USD intraday: under pressure.

Pivot:

1.3450

Our preference:

Short positions below 1.3450 with targets at 1.3400 & 1.3375 in extension.

Alternative scenario:

Above 1.3450 look for further upside with 1.3470 & 1.3490 as targets.

Comment:

The RSI is bearish and calls for further decline.

CRUDE OIL (WTI)

Crude Oil (WTI)‎ (N6)‎ intraday: choppy.

Pivot:

90.80

Our preference:

Short positions below 90.80 with targets at 87.90 & 86.75 in extension.

Alternative scenario:

Above 90.80 look for further upside with 91.50 & 92.40 as targets.

Comment:

As long as 90.80 is resistance, look for choppy price action with a bearish bias.

GOLD

Gold intraday: under pressure.

Pivot:

4475

Our preference:

Short positions below 4475 with targets at 4425 & 4400 in extension.

Alternative scenario:

Above 4475 look for further upside with 4500 & 4520 as targets.

Comment:

The RSI has just struck against its neutrality area at 50% and is reversing down.

DOW JONES

Dow Jones (CME)‎ (M6)‎ intraday: rebound.

Pivot:

50660

Our preference:

Long positions above 50660 with targets at 50890 & 51020 in extension.

Alternative scenario:

Below 50660 look for further downside with 50500 & 50425 as targets.

Comment:

The next resistances are at 50890 and then at 51020.

NASDAQ 100

Nasdaq 100 (CME)‎ (M6)‎ intraday: towards 30350.

Pivot:

29900

Our preference:

Long positions above 29900 with targets at 30160 & 30350 in extension.

Alternative scenario:

Below 29900 look for further downside with 29750 & 29665 as targets.

Comment:

The next resistances are at 30160 and then at 30350.

S&P 500

S&P 500 (CME)‎ (M6)‎ intraday: rebound expected.

Pivot:

7515

Our preference:

Long positions above 7515 with targets at 7565 & 7581 in extension.

Alternative scenario:

Below 7515 look for further downside with 7495 & 7475 as targets.

Comment:

The next resistances are at 7565 and then at 7581.