Technical analysis of USD/JPY for January 27, 2014 2014-01-26 In Asia, Japan will release the Monetary Policy Meeting Minutes, Trade Balance and the US will release some economic data such as US-Flash Services PMI, US-New Home Sales. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session. TODAYs TECHNICAL LEVELS: Resistance. 3 : 102.85. Resistance. 2 : 102.65. Resistance. 1 : 102.45. Support. 1 : 102.20. Support. 2 : 102.00. Support. 3 : 101.80. DESCRIPTION: Please, pay attention to the levels of support 3 (101.80) and resistance 3 (102.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Technical analysis of EUR/USD for January 27, 2014 2014-01-26 When the European market opens, some economic news will be released such as German Ifo Business Climate, German Buba Monthly Report.The US will release the most important economic data such as the US-Flash Services PMI, US-New Home Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAYs TECHNICAL LEVELS: Breakout BUY Level: 1.3749. Strong Resistance:1.3740. Original Resistance: 1.3727. Inner Sell Area: 1.3714. Target Inner Area: 1.3681. Inner Buy Area: 1.3648. Original Support: 1.3635. Strong Support: 1.3622. Breakout SELL Level: 1.3613. DESCRIPTION: Today EUR/USD has support and resistance at 1.3635 and 1.3727. The rate is accompanied by strong support at 1.3622 and by 1.3740 as strong resistance. If EUR/USD breaks out and closes below the 1.3613 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3749 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3648 and at 1.3714, a SELL position. In this case both targets should be placed at the level of 1.3681. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Posted on: Mon, 27 Jan 2014 07:40:59 +0000
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