Source: PaxForex Premium Analytics Portal, Technical Insight The BoJ is unlikely to be satisfied with the current rate of depreciation of the yen and will take countermeasures if it continues. But in principle the central bank should be interested in a weak national currency. Its aim should be to stop the current excessive movement, but to stabilize the yen at weak levels. EUR/JPY,D1 Pivot: 136.07 Analysis: While the price is above 133.35, follow the recommendations below: Time frame: D1 Recommendation: long position...
Source: PaxForex Premium Analytics Portal, Technical Insight The yen suffers from a global inflation shock from the supply side, because the Bank of Japan (BoJ) might not react - unlike most other G7 central banks. In that regard, only some yen recovery seems likely, according to economists at Commerzbank. GBP/JPY,D1 Pivot: 163.35 Analysis: As long as price is above 158.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 163.35 Take profit 1: 165.00 Take Profit 2: 167.00...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD: decline is seen as a correction above 0.6782/80 - Credit Suisse. NZD/USD,D1 Pivot: 0.6832 Analysis: While the price is above 0.6745, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6832 Take Profit 1: 0.6990 Take Profit 2: 0.7050 Alternative scenario: If the level 0.6745 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6745 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The euro's rise to 1.0950 was followed by sustained selling below the 1.09 mark. Scotiabank economists highlight key EUR/USD technical levels to watch out for. EUR/USD,D1 Pivot: 1.0875 Analysis: While the price is below 1.1110, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0875 Take Profit 1: 1.0800 Take Profit 2: 1.0700 Alternative scenario: If the level 1.1110 is broken-out, follow the recommendations...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD: the Bank of Canada is expected to raise its rate by 50 bps next week - MUFG. USD/CAD,D1 Pivot: 1.2594 Analysis: While the price is below 1.2650, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2594 Take Profit 1: 1.2470 Take Profit 2: 1.2365 Alternative scenario: If the level 1.2650 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1...
