Source: PaxForex Premium Analytics Portal, Technical Insight
Yellen: There is no conflict between the Fed's dual mandate (inflation, employment):
Strong growth in the labor market is beneficial for minorities;
The Fed does not set a target unemployment rate for different groups of workers.
USD/JPY, 30 min
Pivot: 104.50
Analysis:
Provided that the currency pair is traded below 104.70, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 104.50
- Take Profit 1: 104.35
- Take Profit 2: 104.15
Alternative scenario:
In case of breakout of the level 104.70, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 104.70
- Take Profit 1: 104.90
- Take Profit 2: 105.15
Comment:
Technically RSI shows the possibility of a downtrend during the day.
Key levels:
Resistance | Support |
105.15 | 104.35 |
104.90 | 104.15 |
104.70 | 104.00 |
USD/JPY, D1
Pivot: 104.76
Analysis:
While the price is below 105.65, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 104.76
- Take Profit 1: 104.00
- Take Profit 2: 103.10
Alternative scenario:
If the level 105.65 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 105.65
- Take Profit 1: 106.15
- Take Profit 2: 106.90
Comment:
RSI shows a medium-term downtrend.
Key levels:
Resistance | Support |
106.90 | 104.00 |
106.15 | 103.10 |
105.65 | 102.45 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – buy above 1.1835 with 1.1880 and 1.1900 as Take Profit targets. Alternative scenario - if the level of 1.1835 is broken-down, you should consider selling with the targets 1.1815 and 1.1795 as Take Profit.
GBP/USD - long positions above 1.3185 with 1.3270 and 1.3290 targets as Take Profit. Alternative scenario - if the level of 1.3185 is broken-down, sell with the targets 1.3165 and 1.3150 as Take Profit.
USD/CHF - sell below 0.9135 with 0.9090 and 0.9075 targets as Take Profit. Alternative scenario - if the level 0.9135 is broken-out, buy with the TP 0.9150 and 0.9170.