Technical analysis of USD/CHF for June 19, 2015

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USD/CHF is expected to consolidate after hitting the month low of 0.9145 on Thursday. On Thursday, the Swiss National Bank maintained its deposit rate at -0.75% and reiterated it was prepared to take further measures to blunt the strength of the Swiss franc, which it said remains "significantly" overvalued. USD/CHF is supported by the improved USD sentiment, negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention. But USD/CHF upside is limited by the positions adjustment ahead of the weekend.

Technical comment:

The daily chart is still negative-biased as the MACD and stochastics are bearish, although latter is at oversold levels. Five and 15-day moving averages are declining.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9250 and the second target at 0.93. In the alternative scenario, short positions are recommended with the first target at 0.9145 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9105. The pivot point is at 0.9185.

Resistance levels: 0.9250 0.93 0.9360

Support levels: 0.9145 0.9105 0.9065

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

Technical analysis of NZD/USD for June 19, 2015

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NZD/USD is expected to consolidate. It is undermined by the weaker-than-expected New Zealand Q1 GDP growth data, dovish Reserve Bank of New Zealand's monetary policy stance, improved USD sentiment, soft dairy prices, and kiwi sales on the buoyant AUD/NZD cross. But NZD/USD downside is limited by the positive investor risk sentiment and positions adjustment ahead of the weekend.

Technical comment:

The daily chart is still negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels. Five and 15-day moving averages are declining.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.68. A break of that target will move the pair further downwards to 0.6820. The pivot point stands at 0.6955. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6995 and the second target at 0.7030.

Resistance levels: 0.6995 0.7030 0.7080 Support levels: 0.6850 0.6820 0.68

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

Technical analysis of GBP/JPY for June 19, 2015

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GBP/JPY is expected to trade with bullish bias. It is undermined by Japan's exports and the fears that Greece might get into default due to its debts and exit the eurozone. But GBP/JPY losses are tempered by the reduced safe-haven appeal of the yen amid positive risk sentiment, demand from the Japanese importers, and positions adjustment ahead of the weekend.

Technical comment:

The daily chart is mixed as stochastics is bullish but the MACD is bearish, bearish shooting-star candlestick pattern was completed on Thursday.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 196.10 and the second target at 197.10. In the alternative scenario, short positions are recommended with the first target at 193.20 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 192.60. The pivot point is at 194.40.

Resistance levels: 196.10 197.10 198

Support levels: 193.20 192.60 192

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

Technical analysis of USD/JPY for June 19, 2015

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USD/JPY is expected to consolidate after hitting the six-day low of 122.47 on Thursday as markets awaited the Bank of Japan's monetary policy decision. USD/JPY is underpinned by the improved USD sentiment as fewer-than-expected 267,000 US jobless claims for the week ended on June 13 (versus forecast 276,000), stronger-than-expected rise in Philadelphia Fed general business activity index to 15.2 in June from May's 6.7 (versus forecast 8.0), larger-than-expected 0.7% rise in the US Conference Board May leading index (versus forecast +0.3%) offset lower-than-expected US May CPI of +0.4% on-month (versus forecast +0.5%) and core CPI of +0.1% on-month (versus forecast +0.2%). USD/JPY is also supported by the demand from Japan's importers, the Bank of Japan's ultra-loose monetary policy, and reduced safe-haven appeal of the yen amid positive global risk sentiment (VIX fear gauge eased 9.03% to 13.19; S&P 500 closed up 0.99% at 2,121.24 overnight). But USD/JPY gains are tempered by the Japanese exports and positions adjustment ahead of the weekend.

Technical comment:

The daily chart is still negative-biased as the MACD and stochastics are bearish.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 122.45. A break of that target will move the pair further downwards to 122.15. The pivot point stands at 123.35. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 123.70 and the second target at 124.10.

Resistance levels: 123.70 124.10 124.35

Support levels: 122.45 122.15 121.75

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