JPY And CHF Keep Soaring; Euro Declines
ICN.com | Apr 13, 2016 07:00AM ET
USD/JPY
In accordance with our previous technical reports that we published since the opening of the week, the USD/JPY has soared, approaching the pivotal resistance of 109.35 after clearing 108.30 and 108.60 respectively.
We remain bullish on the pair, as RSI started to stabilize above the value of 30.00 and ADX started to reflect increasing positive tendencies.
All eyes should on 110.00 psychological, as it could be the technical target for the bullishness.
Support: 108.60-108.30-107.90
Resistance: 109.35-109.75-110.00
Direction: Bullish
USD/CHF
Respecting our bullish scenario, the USD/CHF pair has inclined sharply, attacking the psychological 0.9600 levels.
RSI and ADX are turning into positive mode and we remain bullish on the pair, reinforced by the candlestick pattern formed yesterday.
A break above 0.9635 resistance will expose 0.9720.
Support: 0.9570-0.9500-0.9480
Resistance: 0.9635-0.9690-0.9720
Direction: Bullish
EUR/USD
Euro declined below 1.1375, but we can’t be bearish due to stabilizing above 1.1310.
SMA20 is now valued at 1.1310 and it intersects with 88.6% Fibonacci. Hence, we remain neutral now.
Support: : 1.1310 – 1.1255 – 1.1200
Resistance: 1.1380 –1.1450 – 1.1525
Direction: Neutral
GBP/USD
Negative signals appeared on RSI and ADX over 4-hour interval, but the GBP/USD remains stable above moving averages at 1.4205.
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In fact, we can’t be bearish without breaching 1.4175 to negate the positivity on moving averages.
We hold onto our neutrality as far as 1.4285.
Support: 1.4230 – 1.4175 – 1.4110
Resistance: 1.4145 – 1.4210 – 1.4260
Direction: Neutral
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