Technical Analysis from www.Instaforex.com

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Technical analysis of USD/JPY for January 12, 2016 2016-01-12 0/5




USD/JPY is expected to rebound. Overnight, US stocks managed to halt further slippage thanks to a session-end rally. Shares in the automobile and retailing sectors traded higher, while energy stocks dropped sharply as Nymex crude oil plunged 5.3% to $31.41 a barrel. The Dow Jones Industrial Average gained 0.3% to 16,398, the S&P 500 added 0.1% to 1,923, while the Nasdaq Composite was down 0.1% to 4,637. Gold declined 0.8% to $1,094 an ounce, while the benchmark 10-year Treasury yield edged up to 2.160% from 2.131% in the previous session. Meanwhile, the US dollar remained mixed. EUR/USD dropped 0.6% to 1.0859, USD/CHF rose 0.7% to 1.0015, while GBP/USD edged up 0.1% to 1.4538 and AUD/USD was up 0.6% to 0.6993. As oil prices spiraled downward, USD/CAD once surged to 1.4246, which was only last seen in April 2003. The pair rose to as high as 117.90 yesterday before entering a consolidation. Currently, being above the key support at 117.20, it is standing around the over-lapping 20- and 50-period moving averages, showing no downward momentum. If the current consolidation ends above the key support, the pair should retest the first upside target at 118.80. 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, it is recommended to open long positions with the first target at 118.80 and the second target at 119.30. In the alternative scenario, it is recommended to open short positions with the first target at 116.75, 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 116.10. The pivot point is at 117.20. Resistance levels: 118.80, 119.30, 119.75 Support levels: 116.75, 116.10, 115.75 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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EUR/USD:




The EUR/USD pair moved sideways on Tuesday with nothing significant. This week would see what shall happen to the market, but the bearish bias would not be over unless the price goes above the resistance line at 1.1000, which is a formidable line.

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USD/CHF:





By all indication, it is still possible that this currency pair would go further upwards. The EMA 11 is above the EMA 56, while the Williams' % Range period 20 is in the overbought region. Unless the CHF experiences lots of stamina, the USD/CHF pair could be seen making further bullish effort from here.

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GBP/USD:





Based on yesterday's forecast, the GBP/USD pair was able to test the accumulation territory at 1.4400. The price briefly went below that accumulation territory before bouncing upwards. The price action in this market reveals that such upward bounces should be taken as opportunities to go short, since the market could assume a further southward journey.

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USD/JPY:





This currency trading instrument, which moved southwards last week, still shows the tendency to move further south this week. Although it is still unclear if the pair will make a significant movement this week, the price still shows the determination to go further south, which may eventually enable it to go below the demand level at 117.50.

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[BudakFx]

EUR/JPY:





This cross simply consolidated yesterday in the context of a bearish outlook. The Bearish Confirmation Pattern in the market is valid, and the price could test the demand zone at 127.00. The price could even breach that demand zone to the downside.

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Technical analysis of USD/JPY for January 13, 2016 2016-01-13 0/5





Upside movements are expected to prevail in the USD/JPY pair. Overnight, US stocks settled higher despite a continuous slump in oil prices. Technology and health-care shares were the best performers. The Dow Jones Industrial Average rose 0.7% to 16,516, the S&P 500 gained 0.8% to 1,938, while the Nasdaq Composite was up 1.0% to 4,685. Nymex crude oil, which had once sank below $30.00 a barrel, plunged another 3.1% to $30.44 a barrel, gold dropped 0.7% to $1,086 an ounce, while the benchmark 10-year Treasury yield declined to 2.100% from 2.160% in the previous session. The US dollar stays firm with EUR/USD being broadly flat at 1.0857, USD/CHF closing again above the 1.0000 level, and USD/CAD gaining another 0.3% to 1.4260. Dragged by a downbeat British industrial output report, GBP/USD plunged to a 5.5-year low at 1.4351 before closing 0.7% lower at 1.4443. Having undergone yesterday's choppy session, the pair has managed to stay on the upside. Currently, it is trading above the over-lapping 20- and 50-period moving averages and is around the upper Bollinger band. Besides, the relative strength index is rising, calling for a new up-leg. As long as 117.60 holds as the key support, the pair should proceed towards the first upside target at 118.80 (around the high of January 11). 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, it is recommended to open long positions with the first target at 118.80 and the second target at 119.30. In the alternative scenario, it is recommended to open short positions with the first target at 116.75, 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 116.10. The pivot point is at 117.60. Resistance levels: 118.80, 119.30, 119.75 Support levels: 117.20, 116.75, 116.10 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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Technical analysis of USD/CHF for January 13, 2016 2016-01-13 0/5




USD/CHF is expected to trade in a higher range. The pair has resumed its uptrend on an intraday basis and is now challenging its nearest resistance at 0.9990. The 20-period and 50-period moving averages are still heading upwards, and the relative strength index is bullish above its neutrality area at 50. In this case, as long as 1.0080 is not broken, look for a new test of 1.0120. A break above 1.0080 would open the path to 1.0080, and maybe even to 1.0120. 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, it is recommended to open long positions with the first target at 1.0080 and the second target at 1.0120. In the alternative scenario, it is recommended to open short positions with the first target at 0.9950, 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 0.9915. The pivot point is at 0.9990. Resistance levels: 1.0080, 1.0120, 1.0150 Support levels: 0.9950, 0.9915, 0.9870 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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Technical analysis of NZD/USD for January 13, 2016 2016-01-13 0/5





NZD/USD is under pressure. The pair remains capped by a negative trend line and is also under pressure below its major resistance at 0.6595. Both the 20-period and 50-period moving averages are turning down, calling for a new decline to 0.6545 and 0.65 in extension. Furthermore, the relative strength index has struck against its falling resistance and lacks upward momentum. To sum up, expect a return towards 0.650 below 0.6595. 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 0.6545. A break of that target will move the pair further downwards to 0.65. The pivot point stands at 0.6595. 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 0.6635 and the second target at 0.6675. Resistance levels: 0.6635, 0.6675, 0.6705 Support levels: 0.6545, 0.65, 0.6445 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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Technical analysis of GBP/JPY for January 13, 2016 2016-01-13 0/5





GBP/JPY is expected to trade in a higher range as the key resistance is at 170.10. The pair stays below its key resistance at 170.10 and remains under pressure. Meanwhile, the relative strength index lacks upward momentum. The first target to the downside is set at the horizontal support and overlap at 169.35. A break below this level would open the way to further weakness towards 168.30. 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 169.35. A break of that target will move the pair further downwards to 168.30. The pivot point stands at 170.10. 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 171.70 and the second target at 172.50. Resistance levels: 171.70, 172.50, 173.45 Support levels: 169.35, 168.30, 167.65 Performed by Ahsan Aslam, Analytical expert InstaForex Group © 2007-2016

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