2017-12-19
GBP/JPY is expected to trade with Bullish bias above 149.85. Despite the recent pullback from 149.85, the pair is still trading above the key support at 132.45, which should maintain the buying interest. The relative strength index lacks downward momentum.
To conclude, as long as 149.85 holds on the downside, look for a rebound to 151.05. A break above this level would trigger another rise to 151.50.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 149.85 with the target at 149.40
Strategy: BUY, Stop Loss: 149.85, Take Profit: 151.05
Chart Explanation: the black line shows the pivot point. The price above the pivot point indicates long positions; and when it is below the pivot points, it indicates short positions. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 151.05, 151.50, and 152.10
Support levels: 149.40, 149.00, and 148.50
Technical analysis of USD/CHF for December 19, 2017
2017-12-19
Our first target which we predicted in yesterday's analysis has been hit. USD/CHF is Under pressure. The pair is trading below its declining 20-period and 50-period moving averages, which play resistance roles and maintain the downside bias. The relative strength index is bearish and calls for a further drop.
The U.S. dollar gave up some gains made in the prior two sessions, as investors took profits ahead of Congress' voting on the tax-reform bill.
Hence, as long as 0.9885 holds on the upside, another drop to 0.9835 and even to 0.9815 seems more likely to occur.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: SELL, Stop Loss: 0.9885, Take Profit: 0.9835
Resistance levels: 0.9905, 0.9935, and 0.9975
Support levels: 0.9835, 0.9815, and 0.9795
Technical analysis of USD/JPY for December 18, 2017
2017-12-19
USD/JPY is expected to trade with bearish outlook as Key resistance at 113.00. The pair is rebounding from a low of 112.29 seen yesterday (December 18) but remains capped by the key resistance at 113.00. Currently, the pair is trading at levels around the 50-period moving average. The relative strength index stands above the neutrality level of 50, indicating that the rebound may proceed for a while.
However, as long as 113.00 is not surpassed, the intraday outlook remains bearish and the pair could return to 112.30 on the downside.
Alternatively, if the price moves in the opposite direction, a long position is recommended above 113.00 with a target of 113.15.
Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.
Strategy: SELL, Stop Loss: 113.00, Take Profit: 112.30
Resistance levels: 113.15, 113.35 and 113.65 Support Levels: 112.30, 112.05, 111.70
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