InstaForex Wave Analysis - page 147
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USD/JPY Intraday Technical Levels for January 09, 2013
TODAY'S TECHNICAL LEVELS:
Resistance 3: 87.91.
Resistance 2: 87.74.
Resistance 1: 87.56.
Support 1: 87.35.
Support 2: 87.17.
Support 3: 87.00.
DESCRIPTION:
Please pay attention to the levels of support 3 (87.00) and resistance 3 (87.91). In general, 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.
More analysis - at instaforex.com
USD/JPY intraday technical levels for January 10, 2013
TODAY'S TECHNICAL LEVELS:
Resistance 3: 87.91.
Resistance 2: 87.74.
Resistance 1: 87.56.
Support 1: 87.35.
Support 2: 87.17.
Support 3: 87.00.
DESCRIPTION:
Please pay attention to the levels of support 3 (87.00) and resistance 3 (87.91). In general, 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.
More analysis - at instaforex.com
EUR/USD intraday technical levels for January 11, 2013
TODAY'S TECHNICAL LEVELS:
Breakout Buy Level: 1.3333.
Strong Resistance: 1.3325.
Original Resistance: 1.3312.
Inner Sell Area: 1.3299.
Target Inner Area: 1.3268.
Inner Buy Area: 1.3236.
Original Support: 1.3224.
Strong Support: 1.3211.
Breakout Sell Level: 1.3203.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3224 and 1.3312 and is accompanied by strong support at 1.3211 and by strong resistance at 1.3325.
If EUR/USD breaks out and closes below the 1.3203 level today, then this will indicate considerable bearish strength; while if EUR/USD manages to break out and close above the 1.3333 level, then this will denote high bullish strength. Alternatively for advance traders, you can trade in a way to open a Buy position at the level of 1.3236 and at 1.3299 - a Sell position. Both targets should be placed at the level of 1.3268.
More analysis - at instaforex.com
EUR/USD Intraday Technical Levels for January 14, 2013
TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.3436.
Strong Resistance: 1.3428.
Original Resistance: 1.3416.
Inner Sell Area: 1.3403.
Target Inner Area: 1.3371.
Inner Buy Area: 1.3338.
Original Support: 1.3326.
Strong Support: 1.3313.
Breakout SELL Level: 1.3305.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3326 and 1.3416. The rate is accompanied by strong support at 1.3313 and by 1.3428 as strong resistance.
If EUR/USD breaks out and closes below 1.3305 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3436 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 1.3338 and at 1.3403, a SELL position. In this case both targets should be located at the level of 1.3371.
More analysis - at instaforex.com
EUR/JPY correction is due; 120.00 seen as resistance for now
Technical outlook and chart setups:
As depicted here, the single currency pair produced an Engulfing Bearish ahead of the 120.00/10 region. At the moment, prices seem to be retracing the fall and should face resistance around the 119.90 region. Looking into the risk/reward ratio, it is recommended to initiate short positions at current levels, 119.90/92. The single currency pair is expected to correct in 3 waves towards the 118.20/30 levels at least. A higher Fibonacci resistance is at 121.00, while support is at 118.80 and then 117.50/60 respectively. Looking lower for now.
Trading recommendations:
Short now (119.90/92), stop is at 120.45. Target is at 118.20.
More analysis - at instaforex.com
EurJpy hits measured downside extensions around 118.00. Take profits recommended
Technical outlook and chart setups:
As depicted here, 120.00 level proved to be strong resistance as expected and the single currency pair retraced sharply down. The measured downside extension of 118.00 has been hit and the prices reached a low at 117.00. It is highly recommended to take profits for short positions taken yesterday since immediate support is at 116.90 and the intermediary line is providing support at 116.00 level respectively. 116.00 level is also re-enforced by the past resistance turned support region. Furthermore, it is suggested to watch out for bullish reversals at current levels (117.00) and enter long positions again.
Trading recommendations:
Book profits on short positions taken yesterday. Looking to buy again on a bounce.
More analysis - at instaforex.com
GBP/CHF hits trendline resistance and bounces back; selling on rallies favoured
Technical outlook and chart setups:
A 4H chart view has been depicted here, and, as seen, prices hit the line of resistance around 1.4975/85 region and bounced back producing an evening star. It looks like a lower swing high is in place now around the 1.4975/85 levels and that the next big move should be lower. Higher up resistances are at 1.5050/60 and 1.5160, while support is straight down 1.4670 and 1.46 respectively. It is hence recommended to initiate fresh Sell positions now or on intraday rallies. 1.4925/30 is immediate resistance. Looking lower from these levels.
Trading recommendations:
Sell now (1.4895), add further on intraday rallies. Stop is at 1.5030, target is open.
More analysis - at instaforex.com
EUR/JPY intraday technical analysis
The spot rate is currently testing the upper limit of its medium-term bullish channel at 120.80 suggesting a decline. However, a break of these levels will initiate a more violent bullish channel.
Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a result of a strong increase these days. Stabilization is expected in the short term.
The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 120.80 with the 1st objective at 120.20 and then at 120.00. A breakthrough of 121.00 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 120.80 with the 1st objective at 121.40 and then at 121.60. A breakthrough of 120.60 will invalidate this scenario.
More analysis - at instaforex.com
EUR/JPY intraday technical analysis
The spot rate approaches the intermediate support of its medium-term bearish channel at 118.50 suggesting a rebound. However, a break of these levels will free a large potential and reach the lower limit of its channel at 117.10.
Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
The spot rate is currently testing the intermediate support of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound where we recommend a buy on the level of 118.50 with the 1st objective at 119.10 and then at 119.30. A breakthrough of 118.30 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 118.50 with the 1st objective at 117.90 and then at 117.70. A breakthrough of 118.70 will invalidate this scenario.
More analysis - at instaforex.com
EUR/JPY Elliott Wave analysis for January 22, 2013
Today's support and resistance levels:
S1: 119.63 R1: 120.24
S2: 119.22 R2: 120.71
S3: 118.81 R3: 121.28
Technical overview:
The wave IV correction from 120.71 should be over, and we are now looking for a rally past minor resistance at 120.24 to confirm that assumption for the last rally higher towards 120.71 and the ideal target near 121.28. That said, we should be aware, that the hole impulsive rally from 100.32 is coming to an end and a much bigger correction is looming. The coming wave 4 correction should at least give us a correction down to 113.54, which marks the bottom of the wave IV of a lessor degree. This is a very common target, and it will at the same time be very close to the 38.2% Fibonacci target. However, for now we should keep focus towards the upside for one last rally higher.
Trading recommendation:
We are long EUR from 119.41 with a stop at 118.15. Upon a break above 120.24 we will lift our stop higher to 118.75. We will take profit and reverse our long position to a short EUR position at 121.00.
More analysis - at instaforex.com