The pair maintains stability below the support of the previously breached range bound at 103.40, while stochastic is gradually losing it's upside momentum due to the narrow trading stance. Therefore, continuation of the downside move is likely for today targeting 102.10 and 101.00.
The trading range for the day may be among the 101.70 support and 104.75 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
|Recommendation||Based on the charts and explanations above we recommend selling the pair around 103.40 targeting 102.10 and 101.00 ,stop loss with four-hour closing above 104.25 may be appropriate|