Technical analysis of USDJPY dated 12.05.2016

JPY is pressured by the positive impact of the leading stock exchanges derived from the “risk appetite” growth. On Wednesday USDJPY moved with bearish bias but today it showed some strength and pushed itself up. The support rests at 108.090 with resistance at 108.790 which both lines are above the weekly pivot point at 106.690. The price is testing the resistance level at the moment which will probably push it higher. The pair is falling down descendant channels, both long term and short term, within the Andrews’ pitchfork. However all indicators are showing bulls’ return at any time. The MACD indicator is in positive territory, the RSI is above the 50 level and the stochastic is showing higher price actions. The EMA of 10 is also above the EMA of 50 suggesting the price growth over the last recent days. Even if the resistance level is broken the price will not rally above 109. It can also break the support level and go lower. Traders can stay aside a while to let the chart show more accurate signs.

https://fxglory.com/technical-analysis-of-usdjpy-dated-12-05-2016/

Technical analysis of USDJPY dated 10.05.2016

USDJPY is under the influence of 10-y Bond Auction in Japan and JOLTS Job Openings, NFIB Small Business Index and Whole sale Inventories m/m in the US. The chart is making a reversal after touching 105.537 and it is not a good time to complete it. The support rests at 108.090 with resistance at 109.270 which both lines are above the weekly pivot point at 106.69. The EMA of 10 surpassed the EMA of 50 heading upwards. It seems that the pair is climbing up the ascendant channel. The MACD indicator is in positive territory showing the price growth and the RSI is above 50 level as well. The resistance level breakout will make the pair move in higher ranges. Concerning this scenario, the next target will be 109.80.

https://fxglory.com/technical-analysis-of-usdjpy-dated-10-05-2016/

Technical analysis of GBPCHF dated 10.05.2016

GBPCHF is under the influence of some economic news reports. The Swiss Franc gained momentum by the Switzerland’s consumer price index growth and in the UK the UK’s Halifax house price index fell. The pair is testing the 1.4000 area at the moment. The support lies at 1.39780 with resistance at 1.40100 which both lines are above the monthly pivot point at 1.38780. while locating above EMA of 50, The EMA of 10 is moving close it. The MACD indicator is in positive territory showing the price consolidation and the RSI is staying neutral for now. There is a slight chance that the pair climbs the Andrews’ Pitchfork. Traders can wait for a better chart setting to make their decisions.

https://fxglory.com/technical-analysis-of-gbpchf-dated-10-05-2016/

Technical analysis of EURUSD dated 10.05.2016

EUR was supported by the Factory Orders in Germany and at the same time the Eurozone’s Sentix investor confidence index increased. In the US, on the other side, labour market conditions index fell. EURUSD is moving within the long term ascendant channel and short term descendant channel around the Fibonacci retracements. The pair already passed the selling opportunity at 50% retracement. The support lies at 1.13560 with resistance at 1.14000 which both lines are below the weekly pivot point at 1.14680. The support level breakthrough can suggest a close reversal. The MACD indicator is in negative territory signaling the price decline and the RSI is below the 50 level confirming the selling opportunity.The EMA of 10 has also passed the EMA of 50 and is moving below it. After the support level breakthrough sellers can target 1.1260.

https://fxglory.com/technical-analysis-of-eurusd-dated-10-05-2016/

Technical analysis of EURJPY dated 09.05.2016

After testing the 121.40 level EURJPY has been bouncing up the ascendant channel and it has already made a double bottom. The support is resting at 122.120 with resistance at 122.760 which is above the pivot point at 122.350. The price is rallying towards the resistance line and there is a slight chance of breakout to complete the double top pattern. The RSI is staying in neutral zone around the 50 level and the MACD indicator is in negative territory showing the price decline. The EMA of 10 is located below the EMA of 50 which shows the price decline over the last recent days. Traders can wait for a better chart setup to open their positions, however, the resistance level breakout may push the price towards 123.40.

https://fxglory.com/technical-analysis-of-eurjpy-dated-09-05-2016/

Technical analysis of USDCHF dated 09.05.2016

USDCHF is chiefly affected by the Switzerland’s foreign currency reserves report and will be influenced by Switzerland’s consumer price index data for April soon. USDCHF is moving with bullish bias at the moment. The support is at 0.96900 with resistance at 0.97380 which both lines are above the weekly pivot point at 0.96320. The price is above the Ichimoku Cloud and the Chinkou Span. The Kijun-sen and the Tenkan-sen are both showing downward trend. The MACD indicator is in positive territory signaling the price growth and the RSI is above the 50 level confirming the buy signal. There is a good chance of resistance level breakout for now. Long positions are recommended with the target at 0.9850.

https://fxglory.com/technical-analysis-of-usdchf-dated-09-05-2016/

Technical analysis of EURUSD dated 09.05.2016

EURUSD is under the influence of some news factors such as the negative Fed rate expectations, Non-farm announcement by the US and the Industrial production in Spain. EURUSD is staying neutral for now but there is no chance of further rise at this moment. The support lies at 1.13730 with resistance at 1.14310 which both lines are below the weekly pivot point at 1.14680. The EMA of 10 is moving close to the EMA of 50 below the pivot point line as well. All indicators are showing price decline; MACD indicator is in negative territory, the RSI is below the 50 level and the stochastic is confirming the downward trend. It seems that the pair is going to continue its fall within the descendant channel. The support level breakthrough will pave the way for further decline targeting 1.1260.

https://fxglory.com/technical-analysis-of-eurusd-dated-09-05-2016/