|Day's Range||84.987 - 84.48|
|52 Week Range||84.9869 - 84.4803|
Given the USDJPY’s sustained trading above fortnight-old ascending trend-line, the pair is likely to challenge the 107.85-90 horizontal-resistance, which if broken could escalate its recovery towards 108.45 and the 108.90 north-side numbers. If prices keep rising after 108.90, the 109.30 and the 109.80 can offer intermediate halts during its rally to 110.50. In case of the pullback, the 107.15 may become nearby rest for the pair ahead of highlighting the 106.90 TL, breaking which 106.60 & 106.10 shouldn’t be missed if holding short positions. Moreover, the 105.60 and the 105. ...
First one is the EURUSD, which is having a third green session after creating a bullish engulfing pattern on the long-term up trendline. What we are having here is an ascending triangle pattern, which in theory should result in a bullish breakout and a further rise in the price.
Wednesday is a Head and Shoulders day in our analysis! Today we do have three great trading occasions for you based on this popular pattern. First one is the USDCAD, where the price created a big Head and Shoulders pattern. Next one is the AUDJPY, where we do have an Inverse Head and Shoulders formation.
USDJPY’s recent pullback from resistance-turned-support indicate brighter chances for the pair’s extended recovery towards the 107.00 and then to the 107.30 immediate resistances; however, its following advances have to conquer the 107.85-90 horizontal-line in order to aim for the 108.40 and the 108.80 north-side numbers. Alternatively, pair’s dip below 106.40 support-line may drag it to 106.00 before highlighting the 105.80 ascending TL. Should prices continue declining after 105.80, the 105.30, the 105.10 and the 104.60 are likely consecutive rests that can be availed while being short. ...
Following its dip below 1.3010–1.3000 horizontal-region, the USDCAD recently broke seven-week long ascending trend-line that in-turn indicates brighter chances for the pair’s further downside to 1.2800 and then to the 1.2765-55 levels; however, oversold RSI is creating a doubt about the quote’s additional south-run, which if ignored by the Bears might not hesitate dragging the pair to the 1.2670 and the 1.2650 supports. Meanwhile, the 1.2900, the 1.2940 and the 1.2960 can offer immediate resistances to the pair during its pullback before highlighting the 1.3000–1.3010 area. ...
With its another bounce towards the 1.3000–1.3010 horizontal-region, the USDCAD seem capable enough to surpass the same during this time and may even rise to 61.8% FE level of 1.3040. In case if the pair again fails to clear the 1.3010, the 1.2920 and an upward slanting trend-line, at 1.2865, can entertain counter-trend traders. Alike USDCAD, the EURCAD is also near to short-term important resistance-line, it’s a week-long descending TL figure of 1.6050 in this case, breaking which the pair can rally to the 1.6120 and then to the 61.8% FE level of 1.6215.
Having successfully breached 200-day SMA, the USDCAD seems all set to challenge the 1.2910-20 horizontal-region, with 1.2880 likely offering immediate resistance to the pair; though, its further upside needs to confront overbought RSI levels in order to meet the 1.3000 round-figure, followed by 1.3010-15 resistance-area. Given the pair’s extended north-run beyond 1.3015, the 1.3040 and the 1.3200 could please the Bulls. In case if the quote witnesses a pullback from present levels, the 1.2800, the 1.2780 and the 1.2755 may entertain counter-trend traders, breaking which 200-day SMA level of 1. ...
Having successfully cleared 50-day SMA level, the USDJPY seems all set to conquer short-term descending trend-line resistance-mark of 113.75, break of which could accelerate its latest recovery towards 114.00 and then to the 114.45-50. Given the quote manage to sustain its up-move beyond 114.50, November high around 114.75 might offer intermediate halt during its north-run in direction to 61.8% FE level of 115.40. On the contrary, the 113.00 – 112.90 region, comprising 50-day SMA, may confine the pair’s immediate downside before reigniting the importance of ascending trend-line support of 112. ...
Considering USDCAD’s latest bounce from 1.2800–1.2790 support-zone, the pair seems again heading to confront the seven-week old descending TL resistance, at 1.2890; however, 1.2870 might offer an intermediate halt during its recovery. In case if the quote manages to conquer the 1.2890 mark, it can quickly rise to 1.2920 before targeting the 61.8% FE level of 1.2940. Should the pair fails to sustain latest pullback, the 1.2790 regains its importance, breaking which 1.2770 & 1.2745 could entertain short-term sellers. Moreover, pair’s extended declines below 1. ...
Ever since the USDJPY dropped below the 100-day & 200-day SMA confluence, around 111.60-70, the pair’s up-moves have been confined by the same region that now has an additional back-up of three-week old descending TL; however, the 110.90–111.00 horizontal-area has been successfully limiting the pair’s downturn. Hence, the 110.90 & 111.70 can be considered as strong levels to determine the quote’s near-term trend. Given the pair’s break of 111.70, it can quickly rise to 112.20, the 112.50 and the 50-day SMA level of 112.80 while its follow-on advances may aim for 113.30 and the 113. ...
USD/JPY Although two-month-old upward slanting trend-line triggered the USDJPY’s pullback, a short-term descending trend-channel resistance, at 113.70 now, is likely to confine the pair’s immediate advances. Should the pair refrain to respect the channel formation, it can quickly rise to 114.00 and then to the 114.30 levels ahead of aiming to confront the early-month high … Continue reading Important JPY Pairs’ Technical Overview: 16.11.2017
The Yen has weakened in early trading against the U.S Dollar this morning, but it is approaching important resistance levels which have proven to be strong since March of this year. Traders with a speculative taste may be tempted to sell the U.S Dollar against the Yen. Yen Weakening in Early Trading The Yen has … Continue reading Yen Churns Within Known Range
USD/JPY USDJPY’s reversal from 107.30 presently helps the pair to trade beyond 200-day SMA for the first-time in more than two months; however, it is necessary for the quote to register a daily closing above 112.20 SMA figure in order to aim for 113.60 and the resistance-line of a broader descending trend-channel, at 114.00 now. … Continue reading Technical Checks For USD/JPY, GBP/JPY, CAD/JPY & CHF/JPY: 21.09.2017
Today the main event of the day will be CPI from the US but the rate decision from the BoE also got some attention. USDCAD ahead of the CPI is forming a bearish flag. This pair likes and uses trend continuation pattern so we should see a further drop, obviously if the CPI will allow … Continue reading USD waits for the CPI, GBP already got a boost from the BoE.
USD/JPY One after the other Geo-political threats, be it emanating from North Korea or from US hurricanes, have been helping the JPY to maintain its strength. As a result, the USDJPY finally broke 108.40-15 broad support-zone and indicates brighter chances of testing 107.00–106.90 horizontal-line. In case if overbought RSI fails to trigger the pair’s pullback … Continue reading Technical Overview USD/JPY, EUR/JPY & CAD/JPY: 08.09.2017
There is no much time to digest the yesterday’s move by BoC as today we do have an ECB and Mario Draghi and all eyes are shifted there. Most of the instruments on the market continue the recent trend. Precious metals are climbing higher and USD is going down. One of the few exceptions is, … Continue reading BoC showed how it is done, ECB will follow?
On Tuesday the RBA will announce their interest rate decision. Although the RBA has indicated it is in no hurry to move the benchmark cash rate from 1.5%, the accompanying announcement will be closely watched – what type of comments do you think we can expect from the central bank? Macroeconomic data out of Australia has … Continue reading RBA, BoC & ECB Deliver Interest Rate Decisions
USD/JPY Even if 108.26 offered much required upside trigger to the USDJPY on Tuesday, the pair presently struggles to clear a month-old descending trend-line resistance, at 110.10, which indicate its pullback to 109.40 and the 109.00 nearby supports. During the pair’s follow-on declines after 109.00, the 108.65 and the 108.25 may act as intermediate halts … Continue reading Important JPY Pairs’ Technical Outlook: 30.08.2017
USD/JPY Although six-month old descending trend-line continue signaling USDJPY’s downside, the 108.50-40 horizontal-line seems confining the pair’s near-term downside and indicates brighter chances of its pullback to 109.80 before extending the recovery towards 110.20 TL resistance. Given the pair’s ability to surpass 110.20 on a daily closing basis, it becomes capable enough to aim for … Continue reading Technical Checks For USD/JPY, USD/CAD & CAD/JPY: 24.08.2017
The USD/CAD has been in a steady uptrend. The price has formed an ascending flat top triangle that suggest an uptrend continuation. But the price has already reached the W H4 camarilla pivot so bulls need to be careful. If the pair breaks 1.2760 then 1.2805 will be possible. If there is no breakout to … Continue reading USD/CAD Flat Top Ascending Triangle Uptrend
After hitting its multi-year low against the Japanese yen back in November of 2016, the Canadian dollar has done a great deal of recovering even though the first half of 2017 was a pure downtrend for the loonie. The current upward wave is completing the inverse head-and-shoulders pattern on a weekly timeframe. Above, you can see the pattern marked with the yellow lines. Although, the neckline seems to be broken, the currency rate has not yet reached my entry level, … Continue reading CAD/JPY Has Potential to Rally from Inverse Head-and-Shoulders