Daily analysis of EUR/JPY for June 17, 2016

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Overview

The EUR/JPY pair succeeded to form a strong negative attack yesterday to surpass the first waited target at 115.50 mentioned in our previous report. While the positive rebound is caused by stochastic rally towards the overbought areas, the stability of 118.73 resistance allows us to suggest more negativity in the upcoming period. Therefore, we expect that the price will try to gather new negative momentum in the nearest term, and it will again form negative waves and renew the pressure on yesterday's low to attempt to reach 114.40. This level represents the main target on the short and medium term basis. The expected trading range for today is between 118.00 and 114.40 levels.

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

Daily analysis of GBP/JPY for June 17, 2016

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Overview

The GBP/JPY pair formed strong negative attack yesterday to test the main support line at 145.37, which forced the price to rebound positively towards 148.70. It confirms the strength of the support line, making the price to form a bullish rebound until testing 152.90. After that, the price behavior should be monitored to detect the next main targets for the upcoming period. Therefore, we suggest the bullish bias conditioned by the stability of the mentioned support. Importantly, the stochastic provides positive support by exiting the oversold areas, allowing the price to gain some positive momentum today. The expected trading range for today is between 147.10 and 152.90 levels.

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

Daily analysis of gold for June 17, 2016

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Overview

Gold price has been showing slight positive trading since morning in attempt to move away from the EMA50. Please note that the stochastic is providing positive overlapping signal now, creating a positive motive which is likely to push the price higher to resume the main bullish trend. The targets begin by surpassing 1,303.58 level to reinforce the expectations of targeting 1,344.85 levels. Therefore, the positive scenario will remain valid and active for the rest of the day, unless the price makes a clear break to 1,273.00 and then 1,243.17 levels and holds below it. The expected trading range for today is between 1,260.00 support and 1,320.00 resistance.

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

Daily analysis of silver for June 17, 2016

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Overview

Silver price approached our main waited target at 18.00 and bounced back to lower levels affected by stochastic negativity that appeared yesterday. Now it is reaching the oversold areas to support the chances of resuming the bullish bias again. Additionally, the EMA50 provides positive support to the price. Therefore, we wait for positive trading in the upcoming sessions with the targets begining at 18.00 and extending to 18.63 after breaching the previous level. Please note that the price should hold above 17.00 to achieve the suggested targets.

The expected trading range for today is between 17.00 support and 18.00 resistance.

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