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Technical Analysis from www.Instaforex.com
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15,568
EUR/JPY:
This cross came down on Monday, but it made effort to go upwards on Tuesday. A bearish bias is still valid, because the price has not gone above the EMA 56. Likewise, the RSI period 14 has not gone above the level of 50. Further bullish movement cannot be ruled out
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Technical analysis of GBP/JPY for February 10, 2016 2016-02-10 0/5
GBP/JPY is expected to trade with a bearish bias as the key resistance is seen at 167.35. The pair stays below its key resistance and remains under pressure. The 20-period moving average remains below the 50-period one, while the relative strength index lacks upward momentum. A first target to the downside is therefore seen at 164.55. A breakout below this level would open the way to further weakness toward 164. Trading Recommendations: The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 164.55. A break of that target will move the pair further downwards to 164. The pivot point stands at 167.35. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 168.00 and the second target at 168.90. Resistance levels: 168.00, 168.90, 169.60 Support levels: 164.55, 164, 163.35 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
Legendary Member
Messages
15,568
Technical analysis of NZD/USD for February 10, 2016 2016-02-10 0/5
NZD/USD pair keeps on trading with a bullish bias. The pair stands above its key support at 0.66 and remains on the upside. Meanwhile, the 20-period moving average stays above the 50-period one, and the relative strength index lacks downward momentum. Further upside is therefore expected with the next horizontal resistance and overlap at 0.6685. A breakout above this level would call for further advance towards 0.6720 in extension. Trading recommendations: The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6685 and the second target at 0.6720. In the alternative scenario, short positions are recommended with the first target at 0.6570 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6510. The pivot point is at 0.66. Resistance levels: 0.6680, 0.6720, 0.6750 Support levels: 0.6570, 0.6510, 0.6460 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016
