Source: PaxForex Premium Analytics Portal, Technical Insight
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China complies with the terms of the game;
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There will be no new restrictions against the coronavirus at the national level.
USD/JPY, 30 min
Pivot: 106.56
Analysis:
Provided that the currency pair is traded above 106.35, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 106.56
- Take Profit 1: 106.70
- Take Profit 2: 106.85
Alternative scenario:
In case of breakdown of the level 106.35, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 106.35
- Take Profit 1: 106.20
- Take Profit 2: 106.05
Comment:
Technically RSI shows the possibility of an uptrend during the day.
Key levels:
Resistance | Support |
107.00 | 106.35 |
106.85 | 106.20 |
106.70 | 106.05 |
USD/JPY, D1
Pivot: 106.85
Analysis:
While the price is below 108.50, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 106.85
- Take Profit 1: 106.00
- Take Profit 2: 104.50
Alternative scenario:
If the level 108.50 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 108.50
- Take Profit 1: 109.65
- Take Profit 2: 111.20
Comment:
RSI shows a medium-term downtrend.
Key levels:
Resistance | Support |
111.20 | 106.00 |
109.65 | 104.50 |
108.50 | 102.40 |
We also advise you to pay attention to the following currency pairs for intra-day trading:
EUR/USD – sell below 1.1340 with 1.1300 and 1.1280 as Take Profit targets. Alternative scenario - if the level of 1.1340 is broken-out, you should consider buying with the targets 1.1375 and 1.1400 as Take Profit.
GBP/USD - short positions below 1.2535 with 1.2495 and 1.2470 targets as Take Profit. Alternative scenario - if the level of 1.2535 is broken-out, buy with the targets 1.2560 and 1.2585 as Take Profit.
USD/CAD - buy above 1.3525 with 1.3570 and 1.3590 targets as Take Profit. Alternative scenario - if the level 1.3525 is broken-down, sell with the TP 1.3505 and 1.3485.