EUR/JPY attempts a slight rebound after Wednesday’s drop. The August high at 138.39 caps the upside for now. EUR/JPY rebounds from weekly lows in the 136-60/50 band and recovers some ground lost in Wednesday’s sharp pullback. For now, the August recovery seems to have met some initial resistance at the 138.40 area (Aug 10). If […]
Tag: Technical analysis
EUR/JPY Price Analysis: Sinking sharply below 137.00 as risk appetite improves
The EUR/JPY daily chart forms a bearish candlestick pattern with bearish implications. In the short term, the EUR/JPY could provide momentum before extending the downtrend. The EUR/JPY slumped on Wednesday as risk momentum spurred on by lower US inflation data, dispelling the Federal Reserve’s need for aggressive tightening. The reaction was that the US 10-year […]
GBP/JPY falls to three-day lows amid stronger yen after US CPI.
Japanese yen soars across the board after economic data. The July CPI in the US rises below expectations causing a rise in Treasury bonds. GBP/JPY trims losses after falling to 161.67, the lowest since August 5. The crossing GBP/JPY lost nearly 200 pips after the release of US inflation data triggered a rally in the […]
EUR/USD Price Analysis: Gains could accelerate above 1.0300
EUR/USD flirts with weekly highs around 1.0250 on Wednesday. Further gains seem likely if it closes above 1.0300. EUR/USD is trading positive around the 1.0250 area mid-week. The August high at 1.0293 (Aug 2) looks like the magnet for bulls at the moment. By breaking above this level, the pair is expected to reinforce its […]
DXY Price Analysis: A further drop to 105.00 seems likely
DXY is under further downside pressure near 106.00. Further weakness could see the 105.00 area retested in the short term. The US Dollar Index (DXY) falls for the third session in a row and once again challenges the 106.00 zone ahead of the release of US inflation figures. If the selling bias gathers pace, the […]
EUR/JPY Price Analysis: The next level on the upside is the 55-day moving average
EUR/JPY continues to rise and is trading around 138.00. Further rallies would test the 55-day moving average around 139.60. EUR/JPY continues the uptrend for one more session and hovers around the 138.00 area. Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, the […]
Silver Price Analysis: XAG/USD flirts with confluence zone around $20.40
Silver is finding some selling for the second day in a row and is pulling away from a multi-week high. The technical set-up seems to remain tilted in favor of the bulls and supports the prospects for further gains. A sustained break below the $19.20 area is needed to negate the short-term bullish outlook. Silver […]
USD/JPY Price Analysis: Oscillates around 135.00 due to lack of catalyst
In the longer term, USD/JPY has a neutral to bullish bias, facing strong resistance at 135.50. The USD/JPY hourly chart shows a tight 40-point trading range ahead of Wednesday’s US CPI report. The USD/JPY it is almost sideways amid a calm American session ahead of the July US inflation report, which could shed light on […]
GBP/JPY Price Analysis: Dips below the 20 DMA as sellers eye the 100 DMA
GBP/JPY is trading around known levels, above 163.00. From a long-term perspective, the cross has a neutral bias, awaiting a catalyst. The GBP/JPY hourly chart has a neutral bias, but is leaning lower as sellers gain momentum, as shown by the RSI. The GBP/JPY falters during the North American session in the middle of a […]
EUR/USD Price Analysis: Continued rally would target 1.0300
EUR/USD advances above the 1.0200 barrier on Tuesday. Continuation of the uptrend could see 1.0300 retested in the short term. The EUR/USD flirt with the multi-day high zone around 1.0250 posting gains for the second consecutive session on Tuesday. The August high at 1.0293 (Aug 2) looks like the bull magnet at the moment. Above […]
