Tuesday, July 10, 2018
Again resistance on the USD/JPY?
Earnings
season has begun and along with it risk appetite has come back to the markets
amid optimism on positive corporate results. The safe haven assets have lost
ground due to investors looking for higher returns. That is why the USD/JPY has
been rallying for the past two sessions and reaches the 111.39 level from where
it has bounced to the downside in the past. If the pair bounces to the downside
from the 111.39 level, then it would be forming a double top pattern on that
zone. On the other hand, the valleys on the daily chart have been higher than
the previous ones, indicating that the bullish pressure is accumulating at the
111.39 level. A breakout above the 111.39 level could take the USD/JPY to the
113.00 level. To the downside, the 110.00 level could act as support along with
the 55 and 200 day EMAs just below that level.
Subscribe to:
Post Comments (Atom)
WTI oil at the 200 day EMA
WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...
-
The USD/CAD gets tangled between the 21 day EMA and the 55 day EMA, also between the 1.2800 and the 1.3000. From this point the pair may go... -
The price of gold is still consolidating as shown on the daily chart between the 1281 as support and the 1304 as resistance. At the 1304 lev... -
The EUR/USD has been very volatile lately, but it has not taken a clear a direction. The pair has been consolidating between the 1.2300 leve...
It could be a good turning point.
ReplyDeleteIt's quite bullish for now.
ReplyDeleteStraight to the point! Congrats!
ReplyDeleteExcellent analysis, thank you!
ReplyDeleteI think it will continue moving north.
ReplyDeleteImportant level to keep in mind.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteConsolidation on the gains.
ReplyDelete