Upside risk in USDJPY despite BoJ policy tightening rumors
ShCOMP became the locomotive of growth in the Asian markets on Tuesday due to the weak yuan, which was beneficial for exporters, while there are plans to increase government spending of the Chinese authorities. The result of the anti-crisis measures are likely to bring about an increase in the money supply in the economy.
We see a nice set up today for USDCHF as it has reacted off ascending support line and we could see a possible move up to its resistance. Another nice set up today would be EURJPY where it approaching support and a possible bounce might occur. Here are some of our nice calls previously: 1. […]
EURJPY Approaching Support, Potential Bounce!
EURJPY is approaching its support at 129.66 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where a bounce is expected, causing price to rise to its resistance at 131.95 (horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 4.7% where a corresponding bounce could occur.. Trading CFDs on margin carries […]
GBPJPY testing resistance, potential drop!
GBPJPY is testing its resistance at 146.10 (horizontal overlap resistance, descending channel resistance) where it could potentially fall to its support at 144.95 (78.6% Fibonacci retracement). Ichimoku cloud is showing signs of bearish pressure which contributes to our bearish bias.. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please […]
JP225USD approaching support, potential bounce!
Nikkei 225 has bounced off its support at 22335 (38.2% & 50% Fibonacci retracement, horizontal pullback support, ascending support line) where it has the potential to rise to its resistance at 22728 (61.8% Fibonacci retracement, horizontal pullback resistance). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you […]
USDCHF bounced off support, potential rise!
USDCHF has bounced off its support at 0.9905 (76.4% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support, ascending support line) where price could move up to its resistance at 0.9973 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) bounced off its support at 3.1% where a corresponding rise could occur. Trading CFDs on […]
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