Daily analysis of USD/JPY for September 28, 2016

USDJPYH4.png

Overview

The USD/JPY pair keeps trading below 100.70 levels, which keeps the negative pressure valid until now. The EMA50 keeps pushing the price downwards, keeping the bearish trend valid and active on the short- and mid-term bases inside the bearish channel shown on the chart. Our awaited targets begin at 98.00 and extend to 94.76 that represent the 61.8% Fibonacci level for the entire rise measured from 75.55 to 125.84. Holding below 101.80 represents the most important factor for the suggested decline continuation. The expected trading range for today is between the 99.50 support and the 101.30 resistance.

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of EUR/JPY for September 28, 2016

EURJPYH4.png

Overview

There is no news for the EUR/JPY pair and it is trading steadily within the tight range represented by the 114.20 resistance and the 112.30 support until this moment. Stochastic attempts to form a new bearish wave to support negative momentum and to renew pressure on the support level until the required break. This will open the way towards the awaited targets at 111.30 and 110.00. Therefore, we expect negativity to dominate in the upcoming trading. Stability of 114.20 levels confirms its confinement within the negative range, avoiding any unexpected positive correction. The expected trading range for today is between 114.20 and 111.30.

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of Gold for September 28, 2016

GOLDH4.png

Overview

The gold price traded downwards after testing the main bullish trend line at $1,316.25 shown on the chart. The price is forming the first protecting factor for the bullish trend continuation besides the $1,297.75 level, and as long as the price is above these levels, we will continue to suggest the bullish bias on the intraday and short-term bases. This is supported by stochastic movements inside the oversold areas. Therefore, we are waiting for a rise in the upcoming sessions, and the targets begin by surpassing the $1,344.00 level that will open the way to $1,375.00 followed by $1,400.00 mainly. A break above these support levels will push the price to target the next correctional level at $1,249.94 before any new attempt to rise. The expected trading range for today is between the $1,310.00 support and the $1,350.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com