The pair was rejected at 50-week SMA thrice. It made a double top at 0.9013 levels. The pair’s support is at 0.8898 levels; breaking below this, it can fall to 0.8860, 0.8830 and 0.8777 levels. On the other side, if the pair closes the week above 0.9028, it can fly up to 0.9080, 0.9157 and 0.9198 levels in the short term.
Today, in Asia’s session the pair resisted at 200-day SMA 0.8966. It exactly touched the 200-day Sma and was unable to breach that. We can see the move will be intact only above 0.8966 for 0.8986 and 0.9010 levels.
USD/JPY-
The pair has been in an uptrend from 100.83 exactly taking support at 200-day EMA and moved higher at 102.80 levels. It corrected up to 61.8 fib level and again started moving up making lower lows formation. But, today it opened a bit lower, breaking the lower low formation. It was unable to cross the 50-day Sma in Asia’s session. The pair is making an ascending triangle, it is still trading in that. On the down side, it has support at 101.601, 101.40, and 101.20. The pair will face selling pressure only below 101.20 levels for 101 and 100.80 levels. A day close below 100.80, then only the pair favors bears, until that buying on the dip is the best strategy for the short term.
On the upside, if the pair breaches 102.06, it can fly up to 102.30, 102.65 levels. If it gives a n upside beak out, then we can see 103, 104.10 and 105.50 levels.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
The pair was rejected
at 50-week SMA thrice. It made a double top at 0.9013 levels. The pair’s support is at 0.8898 levels; breaking below this, it can fall to 0.8860, 0.8830 and 0.8777 levels. On the other
side, if the pair closes the week above 0.9028, it can fly up to 0.9080, 0.9157
and 0.9198 levels in the short term.
Today, in Asia’s
session the pair resisted at 200-day SMA 0.8966. It exactly touched the 200-day Sma and was unable to breach that. We can see the move will be intact only above
0.8966 for 0.8986 and 0.9010 levels.
USD/JPY-
The pair has been in
an uptrend from 100.83 exactly taking support at 200-day EMA and moved higher at
102.80 levels. It corrected up to 61.8 fib level and again started moving up
making lower lows formation. But, today
it opened a bit lower, breaking the lower low formation. It was unable to cross
the 50-day Sma in Asia’s session. The
pair is making an ascending triangle, it is still trading in that. On the down side, it has support at 101.601, 101.40, and 101.20. The pair will face selling pressure only below 101.20 levels
for 101 and 100.80 levels. A day close below 100.80, then only the pair
favors bears, until that buying on the dip is the best strategy for the short term.
On the upside, if the pair breaches 102.06, it can fly up to 102.30, 102.65 levels. If it gives a n
upside beak out, then we can see 103, 104.10 and 105.50 levels.
The material has been provided by InstaForex Company – www.instaforex.com
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