Forex Market Commentary By TitanFX

titanfx

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#81
AUDJPY – Buy Aussie Dollar Vs Japanese Yen Post Employment Report?

Key Highlights
• The Aussie dollar after trading as high as 80.02 against the Japanese yen started correcting lower.
• There is a crucial bullish trend line formed on the 4-hours chart of AUDJPY, which may act as a support around 78.80.
• Today, the Australian Employment Change released by the Australian Bureau of Statistics posted a change of -9.8K in Sep 2016.
• The Australian Unemployment rate came in at 5.6%, compared with the forecast of 5.7% in Sep 2016.

AUDJPY Technical Analysis
The Aussie dollar climbed higher this week to challenge the all-important 80 handle versus the Japanese yen. However, there was a rejection in AUDJPY. Let us see whether the pair can bounce one more time or not.



The pair is currently correcting lower, and may trade towards the 38.2% Fib retracement level of the last wave from the 77.74 low to 80.02 high, which may act as a support area.

Moreover, as mentioned, there is a crucial bullish trend line formed on the 4-hours chart, which can be considered as a buy area if the pair moves down. On the upside, a break above 80.00 might clear the path for further gains in AUDJPY.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#82
GBPUSD – 1.2240 Holds Key For British Pound; UK GDP Next

Key Highlights
• The British Pound recovered recently to trade above 1.2150 against the US Dollar.
• There is a crucial resistance formed near 1.2220-40, as a couple of bearish trend lines are positioned.
• Today, the UK preliminary Gross Domestic Product will be released by the National Statistics, which is forecasted to increase by 0.3% in Q3 2016.
• The yearly change for the UK GDP is forecasted to grow by 2.1%.

GBPUSD Technical Analysis
The British Pound mostly struggled against the US Dollar during the past few days. However, if the GBPUSD pair manages to break the 1.2240 resistance, there are chances of further gains.



There are a few important bearish trend lines aligned at 1.2240 on the 4-hours chart, which are acting as a hurdle for the buyers. Moreover, the 61.8% Fib retracement level of the last decline from the 1.2339 high to 1.2083 low is also positioned near it.

So, it looks like it won’t be easy for the buyers to take the pair above the highlighted resistance. On the downside, the 1.2150 level may act as a support, as there is also a bullish trend line positioned around the same level.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#83
USDJPY – Dollar Yen Awaits Economic Data; More Losses Eyed?

Key Highlights
• The US Dollar suffered losses recently, as it traded below the 104.00 support against the Japanese yen.
• There were two trend lines break noted on the 4-hours chart of USDJPY, which ignited a downside move towards 103.00.
• The US Initial Jobless Claims will be released by the US Department of Labor and forecasted to remain at 258K.
• The US ISM Non-Manufacturing Index will be reported by the Institute for Supply Management (ISM) and is forecasted to decline from 57.1 to 56 in Oct 2016.

USDJPY Technical Analysis
The US dollar failed to retain the bullish bias above 105.50 against the Japanese yen and traded lower this week. There was a sharp decline in USDJPY, and it looks like the pair may continue lower.



There are a couple of important points to note. First, there was a break below two trend lines on the 4-hours chart of USDJPY. Second, there was a close below the 104.00 support area. Lastly, the pair also broke the 100 simple moving average (H4), igniting a downside move.

It looks like the pair may soon test the 1.236 extension of the last wave from the 103.16 low to 105.52 high. The H4 RSI is around the oversold readings, so there is a chance of a minor correction. However, in that case, the pair may find sellers near the 100 simple moving average (H4) or the broken trend line.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#84
NZDUSD – Can New Zealand Dollar Retain Traction Post RBNZ

Key Highlights
• The New Zealand dollar after climbing a few pips above the 0.7400 level against the US Dollar failed.
• The NZDUSD pair is supported on the downside as long as the 0.7250 level is intact.
• Today, the RBNZ Interest Rate Decision was announced by the Reserve Bank of New Zealand, and the central bank opted to reduce rates from 2% to 1.75%.
• Later today, the US Initial Jobless Claims will be released by the US Department of Labor, which may impact the greenback.

NZDUSD Technical Analysis
The New Zealand dollar yesterday during election results spiked higher for a move towards the 0.7403 level. The NZDUSD pair later moved down, but remains supported on the downside.



There is a major bullish trend line formed on the 4-hours chart of NZDUSD, acting as a support around the 0.7270-50 area. The most important barrier for sellers is around 0.7250, as it acted as a resistance earlier, and now may act as a support.

On the upside, a break and close above the 0.7320 level is important if the pair has to continue moving higher. There were a few swing moves after the RBNZ rate decision, but the pair found buyers on the downside.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#85
USDCHF – Dollar Breaks Monster Resistance Vs Swiss Franc

Key Highlights
• The US Dollar gained heavy bids lately against the Swiss Franc, and traded above 0.9980.
• There was a monster resistance at 0.9950-80, which was broken by USDCHF during the recent upside.
• Today, the US Consumer Price Index will be released by the US Bureau of Labor Statistics, which is forecasted to increase by 0.3% in Oct 2016.
• The US Net Long-Term TIC Flows released by the US Department of Treasury came in at $-26.2B in Sep 2016.

USDCHF Technical Analysis
The US Dollar enjoyed a nasty upside move against the Swiss franc after the US presidential election. The USDCHF recently broke a monster resistance at 0.9950-80 to open the gates for more upsides.



There was a crucial barrier for USDCHF around 0.9950-80 where the pair struggled on many occasions, as can be seen in the daily chart. The pair recently broke it, and closed above it. It also cleared the last swing high of 0.9998.

So, there is a chance of further gains in USDCHF, taking it towards the 1.236 extension of the last wave from the 0.9998 high to 0.9549 low. The daily RSI has also moved above the 50 level, which is a bullish sign and shows that the US Dollar buyers are in control.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#86
GBPJPY – British Pound Increasingly Bullish Vs Japanese Yen

Key Highlights
• The British Pound remained in an uptrend against the Japanese yen and trading above the 137.00 support area.
• There is a monster triangle pattern formed on the 4-hours chart of GBPJPY, acting as a catalyst for an upside move.
• More gains are likely in GBPJPY as long as the pair is above the triangle support area.
• Today in Japan, the Nikkei Manufacturing PMI was released, which posted a decline to 51.1 in Nov 2016 (preliminary).

GBPJPY Technical Analysis
The British Pound enjoyed a decent upside move against the Japanese yen, and closed above the 137.00 resistance area. The GBPJPY is currently trading with a bullish bias and may trade further higher.



During the recent upside move, the pair broke an important resistance in the form of the 76.4% Fib retracement level of the last major decline from the 143.23 high to 122.580 low. At the moment, the pair is struggling to clear the 140.00-20 resistance area.

Once there is a break above it, the chances of a move towards the full swing high of 143.00 might increase. There is a monster triangle pattern formed on the 4-hours chart, which can be considered a major support.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#87
GBPUSD - Is Rebound a Correction or a Bullish Trend Change?

Key Highlights
• The British Pound mostly traded in a range with resistance near 1.2530 against the US Dollar.
• There is a major bearish trend line and a crucial bullish trend line formed on the hourly chart of GBPUSD, acting as a resistance and support respectively.
• Today in China, the Manufacturing Purchasing Managers Index (PMI) released by the China Federation of Logistics and Purchasing (CFLP) posted a rise to 51.7 in Nov 2016.
• Later today in the UK, the Manufacturing Purchasing Managers Index (PMI) will be released by both the Chartered Institute of Purchasing & Supply and the Markit Economics, which is forecasted to increase from 54.3 to 54.5 in Nov 2016.

GBPUSD Technical Analysis
The British Pound continues to trade in a range of 1.2400-1.2530 against the US Dollar. However, it looks like the GBPUSD pair is trading with a positive tone, and may move higher in the near term.



As mentioned, there are two trend lines on the hourly chart of GBPUSD. On the upside, a bearish trend line acting as a resistance at 1.2530. On the downside, a bullish trend line, providing support at 1.2400.

If the pair breaks any one of these, then there can be a nice move. The chances of an upside break are more considering the fact that the technical indicators are pointing north.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#88
USDJPY - US Dollar Primed For Lift-Off Vs Japanese Yen

Key Highlights
• The US Dollar traded higher against the Japanese yen, and remained above the 113.50 support.
• There is a monster bullish trend line formed on the 4-hours chart of USDJPY, which acted as a support on many occasions.
• Today in Japan, the Gross Domestic Product released by the Cabinet Office posted a rate of 0.3% in Q3 2016, compared with the forecast of 0.6%.
• The yearly Gross Domestic Product came in at 1.3%, compared with the forecast of 2.4%.

USDJPY Technical Analysis
The US dollar remains in an uptrend against the Japanese yen with a major support at 113.50. The USDJPY is currently following a trend, which holds the key in the short term.



Looking at the 4-hours chart of USDJPY, there is a monster bullish trend line formed. It is acting as a bullish trend support and every time the pair dips it holds the downside.

On the upside, the pair is facing resistance near 114.40, coinciding with the 61.8% Fib retracement level of the last wave from the 114.77 high to 113.14 low. As long as the pair is above the trend line, it remains in an uptrend and may look to trade higher towards 114.50.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#89
GBPUSD – British Pound Looking To Extend Losses Vs Dollar

Key Highlights
• The British Pound recently failed to hold the 1.2600 support area against the US Dollar and declined.
• There was an important bullish trend line formed on the 4-hours chart of GBPUSD, which was broken at 1.2600 to ignite a downside move.
• In the UK, the BoE Interest Rate Decision was recently announced by the Bank of England in which the central bank kept the rates unchanged at 0.25%.
• Today, the Quarterly Bulletin will be released by Bank of England, which may impact the GBP in the short term.

GBPUSD Technical Analysis
The British Pound earlier in December traded towards 1.2800 against the US Dollar, but later failed. There was a downside move initiated in GBPUSD, which extended once the pair broke 1.2600. It looks like more losses are likely going forward.



The downside move in GBPUSD was initiated once there was a break below an important bullish trend line formed on the 4-hours at 1.2620-00. During the downside move, the pair also broke the 100 simple moving average.

Moreover, there was also a close below the 50% Fib retracement level of the last wave from the 1.2302 low to 1.2777 high. Overall, there are enough reasons for the British Pound sellers to remain in control.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#90
USDJPY – A Look at Dollar to Yen Big Picture

Key Highlights
• The US Dollar rocketed higher during the past few weeks against the Japanese yen to trade above 115.00.
• The weekly chart of USDJPY suggests that the pair is reaching a major resistance area near 119.00-120.00.
• There is a monster bearish trend line and resistance area formed near 119.00-120.00.
• Today, the US Gross Domestic Product Annualized reading will be released by the US Bureau of Economic Analysis, which is forecasted to increase by 3.3% in Q3 2016.

USDJPY Technical Analysis
The US Dollar after making a major low in June 2016 at 99.00 against the Japanese yen traded higher. The USDJPY pair registered solid gains and now reaching a major resistance area near 119.00-120.00.

Looking at the weekly chart of USDJPY, there is a monster connecting bearish trend line positioned near 119.50. Moreover, the 76.4% Fib retracement level of the last decline from the 125.85 high to 99.05 low is also around the same trend line.



Lastly, the same area was a pivot zone for the pair earlier. So, it looks like the pair may face a lot of offers near the highlighted resistance area. A break above it won’t be easy. On the downside, the 100-week simple moving average is aligned at 115.00 to act as a support area if the pair corrects lower. The weekly RSI is well above the 50 level, which is a positive sign for USDJPY in the near term.
On the other hand, a break above 120.00 may open the doors for a move towards 125.00 in the medium term.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#91
GBPUSD – British Pound Attempts To Gain Momentum; US NFP Next

Key Highlights
• The British Pound recently traded higher against the US Dollar, and managed to break the 1.2350 resistance.
• There was a bearish trend line on the 4-hours chart of GBPUSD, which was acting as a resistance near 1.2350-60 and was cleared.
• Today in the US, the nonfarm payrolls figure will released by the US Department of Labor, which is forecasted to post a minor decrease from 178K to 175K.
• The US Unemployment Rate is forecasted to increase from 4.6% to 4.7%.

GBPUSD Technical Analysis
The British Pound recently spiked above the 1.2350 resistance against the US Dollar and settled above it. The GBPUSD is currently struggling to gain momentum for a break above 1.2400.



There was a crucial bearish trend line on the 4-hours chart of GBPUSD, acting was a resistance near 1.2350-60. It was acting as a hurdle for a push higher recently along with the 50% Fib retracement level of the last decline from the 1.2509 high to 1.2196 low.

However, the pair later broke the trend line and the 100 simple moving average on the H4 chart at 1.2360 to gain momentum, and move towards the next barrier at 1.2400.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#92
EURJPY – Euro Declines Below 122.00 Support Vs Japanese Yen
Key Highlights
• The Euro remained under selling pressure against the Japanese yen, and broke the 122.00 support area.
• There was a monster triangle pattern formed on the 4-hour chart of EURJPY with support at 122.00.
• The Japanese Current Account released by the Ministry of Finance posted a trade surplus of ¥1,415.5B, compared with the forecast of ¥1,500.0B in Nov 2016.
• The Japanese Trade Balance Total came in at ¥313.4B in Nov 2016, compared with the last ¥587.6B.

EURJPY Technical Analysis
The Euro was seen trading lower recently against the Japanese yen, as it moved towards 121.00. The EURJPY pair broke a major support near 122.00, which ignited a downside move.



When we look at the 4-hours chart of EURJPY, there was a monster triangle pattern formed with support at 122.00. Moreover, the 200 simple moving average on the same chart was also around 122.00.

There were two possible scenarios. Either the pair could have bounced or break it for a sharp downside towards 120.00. As long as the triangle pattern was intact, the pair was supported. Once there is a close below the 200 simple moving average (H4), it paved the way for further declines.

On the upside, the most important resistance is near the 38.2% Fib retracement level of the last decline from the 123.72 high to 122.10 low at 122.72. Moreover, the 100 simple moving average (H4) may also act as a hurdle on the upside near 122.70.

An initial resistance is now near the broken support at 122.00 along with the 200 SMA (H4).

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#93
USDJPY – Dollar To Yen Faces A Crucial Resistance Near 115.00

Key Highlights
• The US Dollar remained under heavy bearish pressure vs the Japanese yen and moved below 115.00.
• There are many resistances on the upside, including a bearish trend line at 115.20 on the 4-hours chart of USDJPY.
• The US Consumer Price Index released by the US Bureau of Labor Statistics recently posted an increase of +0.3% in Dec 2016, compared with the forecast of +0.3%.
• The Australian Employment Change released by the Australian Bureau of Statistics posted a change of 13.5K in Dec 2016.

USDJPY Technical Analysis
The US Dollar faced a lot of selling pressure recently, and moved below 115.00 against the Japanese yen. The USDJPY looks like well in the bearish zone, and may trade lower in the short term.



The pair recently extended the downside move, and broke the 100 and 200 simple moving average plus a major support at 115.00 on the 4-hours chart. It opened the doors for a sharp downside move, taking the pair towards 112.50.

Later, the pair started a recovery, but likely to face sellers near the 76.4% Fib retracement level of the last decline from the 115.44 high to 112.87 low. Moreover, there is a bearish trend line on the same chart, waiting to act as a hurdle near 115.00-115.20.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#94
NZDJPY – New Zealand Dollar Poised for Further Gains versus Yen

Key Highlights
• The New Zealand Dollar remained elevated against the Japanese yen with support at 82.00.
• There are two bullish trend lines positioned on the downside for NZDJPY to act as a support at 82.20 and 81.80.
• Today, the Consumer Price Index released by the Statistics New Zealand posted an increase of 0.4% in Q4 2016.
• In terms of the yearly change, there was a rise of 1.3% in Q4 2016, compared with the +1.2% forecast.

NZDJPY Technical Analysis
The New Zealand dollar climbed above a major resistance at 81.80-82.00 against the Japanese yen. The NZDJPY pair is now in an uptrend and remains supported near the same levels.

The pair recently traded close to the 82.80 level where it found sellers and moved down. However, the downside move remains supported, as there is a major barrier near 82.00-81.80. The same levels were resistances earlier, and may now act as supports.



Moreover, the same area has a bullish trend line on the 4-hours chart. So, we can say if the pair dips from the current levels, then it may find support near 82.00 or 81.80.

On the upside, a break above 82.80 is needed for a move towards 83.00 in the near term. The H4 RSI is well above the 50 level for NZDJPY, which is a positive sign.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#95
GBPUSD – British Pound Likely Bullish Ahead of BOE Decision

Key Highlights
• The British Pound during the past few days traded positively, and broke the 1.2500 resistance against the US Dollar.
• The GBPUSD pair also broke a monster bearish trend line at 1.2470 on the daily chart.
• Today, the UK BoE Interest Rate Decision will be announced by the Bank of England, forecast is 0.25% vs 0.25% previous.
• The UK PMI Construction will be released for Jan 2017 by the Chartered Institute of Purchasing & Supply and Markit Economics, forecast is 53.8 vs 54.2 previous.
• The fed interest rate decision was announced yesterday, and the fed decided to keep rates at 0.75%.

GBPUSD Technical Analysis
The British Pound after a dip below 1.2400 this week against the US Dollar recovered. The GBPUSD pair is now trading higher and looks set for more gains towards 1.2770.



During the recent upside, the pair broke a monster bearish trend line at 1.2470 on the daily chart. Moreover, there was a break above 50% Fib retracement level of the last decline from 1.2774 high to 1.1986 low.

The pair was also closed above the 100-day simple moving average at 1.2470. So, there are many bullish signs. If all goes well the pair may test the 1.236 extension of last decline from 1.2774 high to 1.1986 low. The daily RSI for GBPUSD is also above the 50 level, suggesting more upsides in the near term.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#96
NZDUSD – New Zealand Under Pressure, RBNZ Keeps Rates Unchanged

Key Highlights
• The New Zealand dollar recently failed to break the 0.7375 resistance against the US Dollar and declined.
• The NZDUSD pair broke a major support at 0.7300, as there was a bullish trend line on the 4-hours chart.
• The RBNZ Interest Rate Decision was announced by the Reserve Bank of New Zealand in which the central bank made no changes in rates from 1.75%.
• The New Zealand Building Permits released by the Statistics New Zealand posted a decline of 7.2% in Dec 2016.

NZDUSD Technical Analysis
The New Zealand was under a heavy bearish pressure recently against the US Dollar, as it failed near 0.7375. The NZDUSD pair is currently trading below a major support area, and remains at a risk.



As can be seen from the 4-hours chart, there was a bullish trend line at 0.7300, which was preventing the downside move. A proper close below 0.7300 and the trend line might now ignite further declines in the near term.

On the upside, the pair faces resistance near the 23% Fib retracement level of the last decline from the 0.7375 high to 0.7224 low. In short, more losses are likely in NZDUSD, and rallies could be sold near 0.7260-80.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#97
EURJPY – Euro Facing Uphill Task Vs Japanese Yen

Key Highlights
• The Euro recently bounced from the 120.20 low against the US Dollar, but found resistance near 121.10-20.
• There was a break above two bearish trend lines at 120.60 on the 4-hours chart of EURJPY.
• Today in Australia, the Employment Change released by the Australian Bureau of Statistics for Jan 2017 came in at 13.5K, compared with the forecast of 10K.
• The Unemployment Rate came in at 5.7% in Jan 2017, compared with the forecast of 5.8%.

EURJPY Technical Analysis
There was a recovery initiated in the Euro from the 119.32 low against the Japanese yen. The EURJPY pair moved above 120.00, but now faces a major hurdle near 121.20.



The stated resistance area is a major confluence area. It acted as support on multiple occasions, and now acting as a resistance. It also represents the 61.8% Fib retracement level of the last decline from the 122.51 high to 119.32 low.

Moreover, the 100 simple moving average is also at 121.25. This means there is a clear hurdle around 121.20. A break above it might push the pair towards 121.75. On the other hand, a failure would call for a retest of 120.00.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#98
GBPJPY – British Pound Under Renewed Selling Pressure Vs Yen

Key Highlights
• The British Pound after trading close to 142.00 against the Japanese yen found sellers.
• There GBPJPY pair failed to break a bearish trend line with resistance at 142.00 on the 4-hours chart.
• The Q4 2016 Gross Domestic Product preliminary release in the UK by the National Statistics was disappointing, as there was an increase of 2% (YoY), less than the forecast of 2.2%.
• Today in the UK, the CBI Distributive Trades Survey for Feb 2017 will be released by the Confederation of British Industry, forecast 0% vs -8% previous.

GBPJPY Technical Analysis
The British Pound was in trouble against the Japanese yen, as it declined below 141.00. The GBPJPY pair recently failed near 142.00, and started a bearish trend.



The recent failure near 142.00 was mainly due to a bearish trend line on the 4-hours chart. The pair also failed near the 76.4% Fib retracement level of the last decline from the 142.81 high to 139.62 low. So, it can be seen as a technical failure, igniting a downside move.

The pair is now below the 100 simple moving average (H4) and 141.00. If the GBP bears remain in action, there can be a downside extension towards 140.00.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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#99
NZDUSD – New Zealand Dollar Struggle To Continue Vs USD

Key Highlights
• The New Zealand dollar declined heavily this week against the US Dollar, and moved below 0.7150.
• The NZDUSD pair broke a major bullish trend line and support at 0.7140 on the 4-hours chart to open the gates for more downsides.
• The US Manufacturing Purchasing Managers Index (PMI) for Feb 2017 released by the Markit Economics recently posted a decline from 54.3 to 54.2.
• Later today, the US Initial Jobless Claims will be released by the US Department of Labor, which is forecasted to decline from 244K to 243K.

NZDUSD Technical Analysis
The New Zealand dollar was under a lot of bearish pressure recently, as it moved below the 0.7180 support against the US Dollar. The NZDUSD pair is now at a risk of more declines towards 0.7100.



Before the recent downside move, the pair cleared the 100 simple moving average at 0.7200 on the 4-hours chart. Also, there was a break below a critical bullish trend line and support at 0.7140. The pair fell towards 0.7100, and currently attempting a recovery.

However, any major upside in NZDUSD is unlikely considering the bearish pressure. It may face many resistances on the way up like 0.7150, 0.7170 and 0.7180. Overall, there are chances of further declines below 0.7100 in the short term.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'
 

titanfx

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GBPJPY – British Pound Bearish Bias Remains Intact Vs Japanese Yen

Key Highlights
• The British Pound downside pressure accelerated below 140.00 against the Japanese yen.
• There are two bearish trend lines with resistance at 139.60 and 140.20 on the 4-hours chart of GBPJPY.
• The Japanese Labor Cash Earnings for Jan 2017 (YoY) released by the Ministry of Health, Labour and Welfare registered a rise of 0.5%.
• In the UK, the RICS Housing Price Balance for Feb 2017 released by the Royal Institution of Chartered Surveyors posted a rise of 24%, compared with the +23% forecast.

GBPJPY Technical Analysis
The British Pound failed to remain in the bullish zone vs the Japanese yen, and moved below 140.00. The GBPJPY pair is now facing many resistances on the upside near 139.60, and looking to extend downsides.



On the upside, an initial resistance is near a bearish trend line at 139.60 on the 4-hours chart. However, the most important one is near 140.20. It coincides with the second bearish trend line, and the 100 simple moving average (H4).

On the downside, the pair may look to trade close to the 1.236 extension of the last wave from the 138.82 low to 140.75 high at 138.27.

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Posted by Aayush Jindal - 'Titan FX Currency Analyst'