FX Technical Analysis
EURUSD
Comment: Trying to stabilise at the 50% retracement level and should dither here again today.
Strategy: Possibly attempt small longs at 1.4380; stop below 1.4195. Short term target 1.4550, then 1.4700
Direction of Trade: →
Chart Levels:
| Support |
Resistance |
| 1.4338 " |
1.446 |
| 1.4303 |
1.4572 |
| 1.4275 |
1.465 |
| 1.4195 |
1.47 |
| 1.415 |
1.4769 |
GBPUSD
Comment: Trying to steady itself against 1.8000. Prices will probably hold very nervously roughly between 1.7800 and 1.8500 this week and maybe for the next three.
Strategy: Possibly attempt small longs at 1.8000; stop below 1.7900. Short term target 1.8200, maybe 1.8400.
Direction of Trade: →
Chart Levels:
| Support |
Resistance |
| 1.8000 " |
1.808 |
| 1.7985 |
1.8186 |
| 1.796 |
1.8288 |
| 1.7915* |
1.8469 |
| 1.7835 |
1.86 |
USDJPY
Comment: Re-testing recent lows where a sustained break below 103.50 should really set things going South. Maybe not today, but look carefully at monthly and quarterly charts tomorrow morning, for important breaks.
Strategy: Sell at 104.40 but only if prepared to add to 105.50; stop above 107.10. Short term target 103.50, then 102.50
Direction of Trade: →↘
Chart Levels:
| Support |
Resistance |
| 103.97 " |
104.5 |
| 103.50** |
104.7 |
| 104.99 |
105.3 |
| 104.5 |
106 |
| 103.97 |
106.5 |
EUR/JPY
Comment: Collapsing and re-testing key long term support. Expect some hesitation today and a move a lot lower later next month.
Strategy: Sell at 150.00, adding to 152.00; stop above 154.05. Short term target 149.00, then 147.50/147.00
Direction of Trade: →↘
Chart Levels:
| Support |
Resistance |
| 150.00 " |
150.46 |
| 148.84 |
151.3 |
| 148 |
152 |
| 147.5 |
153 |
| 147.00** |
154 |
Mizuho Corporate Bank
Disclaimer
The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.
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