Daily analysis of USD/JPY for September 22, 2019

Forex analysis review
Daily analysis of USD/JPY for September 22, 2019

Daily analysis of GBP/USD for September 22, 2017

GBPUSDH4.png

Overview

The GBP/USD pair bounced bullishly after approaching from 23.6% Fibonacci correction level for the third time, to reach the thresholds of the recently recorded top at 1.3618. This hints that the price is going to stop the bearish correction and return to the main bullish trend again, especially as the EMA50 continues to support the price from below. By taking a deeper look at the chart, we find that the recent trades are confined inside the bullish flag pattern that appears on the chart. It means that breaching 1.3595 will provide momentum that will push the price to resume the main bullish trend in the short term. Therefore, these factors encourage traders to suggest the bullish trend on the intraday and short-term basis with its next main target located at 1.3680. Please note that breaching this level will extend the pair's gains to reach 1.3834, while the expected rise will remain valid unless breaking 1.3418 level and holding below it. The expected trading range for today is between 1.3500 support and 1.3680 resistance.

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

Daily analysis of USD/JPY for September 22, 2019

USDJPYH4.png

Overview

The USD/JPY pair found difficulty to surpass 112.80 level, to rebound downwards clearly and attack 111.75 level now. This hints the price has to return to the main bearish trend after the bullish correction that it witnessed recently. Stochastic is moving downwards on the chart of four-hour time frame that supports the chances of continuing the bearish bias in the upcoming sessions. Please note that the next target is located at 110.90, while the bearish trend will remain valid unless breaching 112.80 and holding above it. The expected trading range for today is between 110.50 support and 112.50 resistance.

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

Daily analysis of GBP/JPY for September 22, 2017

GBPJPYH4.png

Overview

The GBP/JPY pair achieved the first upward target at 152.80 to form a good barrier against a new bullish attack. The pair is about to start some correctional trading as appears on the chart. Let me remind you that it is important to hold above 150.00 support to decrease the chances of suffering intraday losses and repeat the pressure on the mentioned barrier until finding the chance to record additional targets that start at 154.65. On the other hand, breaking the initial support will confirm forming a correctional bearish bias, so the pair can move towards 147.80 before achieving a new upward target. The expected trading range for today is between 150.80 and 152.80

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

Analysis of Gold for September 22, 2017

analytics59c50c580038e.png

Recently, Gold has been trading sideways at the price of $1,295.00. According to the 30M time frame, I found rejection from intraday resistance at the price of $1,300.00, which is a sign that buying looks risky. Buyers lost momentum and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,288.45 and $1,280.75.

Resistance levels:

R1: $1,301.60

R2: $1,303.45

R3: $1,304.50

Support levels:

S1: $1,298.65

S2: $1,297.40

S3: $1,295.65

Trading recommendations for today: watch for potential selling opportunities.

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