Tuesday's Technical Analysis: AUD/USD, EUR/JPY, USD/JPY
Panayiotis Miltiadous | Mar 24, 2015 08:29AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7846 with target @ 0.7931.
Market Scenario 2: Short positions below 0.7846 with target @ 0.7795.
Comment: The pair moves to four week high near 0.7900 level.
Supports and Resistances:
R3 0.8067
R2 0.7982
R1 0.7931
PP 0.7846
S1 0.7795
S2 0.7710
S3 0.7659
EUR/JPY
Market Scenario 1: Long positions above 130.55 with target @ 131.83.
Market Scenario 2: Short positions below 130.55 with target @ 129.76.
Comment: If the pair trades back below 130.00, this may be a way to express a bearish EUR view.
Supports and Resistances:
R3 133.90
R2 132.62
R1 131.83
PP 130.55
S1 129.76
S2 128.48
S3 127.69
EUR/USD
Market Scenario 1: Long positions above 1.0894 with target @ 1.1022.
Market Scenario 2: Short positions below 1.0894 with target @ 1.0818.
Comment: The pair recovers losses ahead of Flash PMI reports.
Supports and Resistances:
R3 1.1226
R2 1.1098
R1 1.1022
PP 1.0894
S1 1.0818
S2 1.0690
S3 1.0614
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 178.94 with target @ 179.73.
Market Scenario 2: Short positions below 178.94 with target @ 178.20.
Comment: The pair continues its losing streak in the European session, extended losses for the second straight day mainly as the pound continues to get beaten by the yen amid broad based US dollar recovery.
Supports and Resistances:
R3 181.26
R2 180.47
R1 179.73
PP 178.94
S1 178.20
S2 177.41
S3 176.67
GBP/USD
Market Scenario 1: Long positions above 1.4926 with target @ 1.5015.
Market Scenario 2: Short positions below 1.4926 with target @ 1.4865.
Comment: The pair bears still have a case as long as we remain below 1.5000 and the combination of the CPI surprises today from the UK and CPI fails to push the interest rate spreads back higher.
Supports and Resistances:
R3 1.5165
R2 1.5076
R1 1.5015
PP 1.4926
S1 1.4865
S2 1.4776
S3 1.4715
USD/JPY
Market Scenario 1: Long positions above 119.82 with target @ 120.05.
Market Scenario 2: Short positions below 119.82 with target @ 119.24.
Comment: The pair trades near the first support level 119.47.
Supports and Resistances:
R3 120.63
R2 120.40
R1 120.05
PP 119.82
S1 119.47
S2 119.24
S3 118.89
GOLD
Market Scenario 1: Long positions above 1186.10 with target @ 1198.50.
Market Scenario 2: Short positions below 1186.10 with target @ 1181.30.
Comment: Gold prices largely retain gains near 1190.00 level.
Supports and Resistances:
R3 1206.10
R2 1198.50
R1 1193.70
PP 1186.10
S1 1181.30
S2 1173.70
S3 1168.90
CRUDE OIL
Market Scenario 1: Long positions above 46.81 with target @ 49.09.
Market Scenario 2: Short positions below 46.81 with target @ 46.01.
Comment: Crude oil prices slide after China data.
Supports and Resistances:
R3 50.57
R2 49.09
R1 48.29
PP 46.81
S1 46.01
S2 44.53
S3 43.73
USD/RUB
Market Scenario 1: Long positions above 59.074 with target @ 59.570.
Market Scenario 2: Short positions below 59.074 with target @ 56.962.
Comment: The pair shows weakness.
Supports and Resistances:
R3 60.874
R2 60.379
R1 59.570
PP 59.074
S1 58.266
S2 57.770
S3 56.962
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