Intraday Analysis - Monday, Oct. 19

USDJPY moving lower

The Yen (USDJPY) bounced back against the dollar as the pair looks to close the weekend gap.

• Resistance at 158.30 indicates renewed selling pressure and could lead to a bearish continuation.

• The recent low at 157.40 is a major target lower if the dollar gives back most of its gains.

• A bounce above 158.30 could lead to 159.00 as the first resistance.

NZDUSD bounces back

The Kiwi advanced as the greenback remained pressured across the board.

• After hitting support at 0.5570, the pair headed higher to recapture around 100 pips.

• Intraday sellers’ profit-taking could drive prices even higher, especially if they succeed in lifting the 0.5700 zone.

• If sentiment turns downbeat, 0.5660 becomes the level to beat before a move lower towards the 0.5600 region.

UK 100 remains bullish

The FTSE continues to grind higher as the recent direction has left traders feeling uneasy.

• Following a tentative break above 10700, the index seems to have hit some resistance around 10860.

• A divergent RSI suggests a slowdown in momentum, with 10650 a major floor to hold.

• A close above 10860 could lift offers higher at the psychological level of 11000.