Narrow trading dominates the pair's movement since yesterday, settling below the breached pivotal support at 119.30, accordingly, the scenario we suggested yesterday continues to be valid and effective. We recommend reviewing yesterday's report for details regarding the possible targets and invalidation levels.
The trading range for the day is expected among the key support at 116.80 and the key resistance at 120.30.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
|Recommendation||Based on the charts and explanations above we recommend selling the pair around 119.30 targeting 117.95 and 116.80, stop loss with four-hour closing above 120.30 may be appropriate|