market fell further last week, closing below the resistance line at 1.2200. The
next target for the price is at the support line of 1.2150, and should that
support line be breached to the downside, the price may then target another
support line at 1.2100.
market rose further last week, closing above the support level at 0.9850. The
next target for the price is at the resistance level of 0.9900, and should that
resistance level be breached to the downside, the price may then target another
resistance level at 0.9950. Could the USD reach parity with the CHF? It seems
currency trading instrument went downward last week, but further downward
movement was rejected as the price bounced upwards from the accumulation
territory at 1.5500. Now, hovering around the accumulation territory at 1.5550,
further upward bounce could be contained at the distribution territory at
1.5600. Meanwhile, the price could fall down again, testing the accumulation
territory at 1.5500.
USD/JPY pair closed at 120.31, on Friday, December 26, 21014. This pair trended
upwards last week before it consolidated towards the end of the week. The bias
is bullish and the supply level at 12.50 would soon be breached to the upside;
after which another supply level at 130.00 would be challenged.
EUR/JPY: This cross should be bullish – just like
certain JPY pairs. However, the weakness in the EUR is too much to allow any
significant bullish move. There is a possibility that the demand level at
146.00 could be tested, though a rally may cause the price to reach the supply
zone at 147.50.
The material has been provided by InstaForex Company – www.instaforex.com