Daily Video Analysis on EUR/JPY - 10th February 2017

We take an in-depth look on EUR/JPY to see if there are any trading opportunities available for us to trade off and generate potential profits from. We explain clearly how we use a range of analytical approaches from Fibonacci retracements to Fibonacci extensions, price action and oscillators to determine such trading opportunities.

Join us and learn how to find good trading opportunities through technical analysis!

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

AUD/JPY profit target reached perfectly, prepare to turn bearish

The price has reached our profit target perfectly from yesterday. We prepare to turn bearish below 86.72 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to 85.89 support (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) sees strong resistance below the 95% level.

Sell below 86.72. Stop loss is at 85.98. Take profit is at 87.10.

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EUR/JPY profit target reached perfectly, prepare to sell

The price has shot up and reached our profit target perfectly. Now we turn bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, and recent swing low support).

Stochastic (34,5,3) observes resistance at the 92% level.

Sell below 121.09. Stop loss is at 121.86. Take profit is at 119.65.

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Daily analysis of USD/JPY for February 10, 2017

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Overview

The USD/JPY pair traded with clear positivity yesterday to test the bearish channel's resistance, accompanied by witnessing big overbought signals through stochastic. To form negative factor that we expect to push the price to rebound bearishly and resume the bearish trend again, which main targets begin at 111.60 and extend to 110.00. In general, we will continue to suggest the bearish trend in the upcoming sessions, unless breaching 113.97 level and holding with a daily close above it. The expected trading range for today is between 112.45 support and 114.30 resistance.

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Daily analysis of EUR/JPY for February 10, 2017

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Overview

The EUR/JPY pair rallied above 120.60 level attempting to regain the bullish bias but formation of a new resistance at 121.60 level might decelerate the bullish rally during the current trading. Therefore, we expect the price confinement in sideways range between the mentioned levels until there will be a new signal that supports detecting the main trend in the upcoming period. Note that breaching the barrier at 121.60 will confirm regaining of the bullish bias to renew forming of the bullish trading to target 123.10 level, reaching the top at 124.05. At the same time providing negative trading below 120.60 will put it under the effect of the bearish correctional bias, to be attracted to 118.60. The expected trading range for today is between 120.60 and 121.60.

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Daily analysis of Gold for February 10, 2017

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Overview

Gold price shows positive trading now in attempt to regain its bullish track that stopped temporarily after yesterday's decline. Notice that stochastic begins to overlap positively on the 4-hour time frame. That supports the chances for the rise without the need to hit the level of 1,211.31. Therefore, we believe that there are chances for the continuation of the bullish trend in the upcoming period. The positive targets begin to breach 1,231.75 to confirm the way is opening towards 1,249.94. Take into consideration that the price failure to breach 1,231.75 level will put the price under negative pressure that targets testing 1,211.31 and might extend to 1,202.50 before any new attempt to rise. The expected trading range for today is between 1,211.31 support and 1,235.00 resistance.

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Daily analysis of Silver for February 10, 2017

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Overview

The price of silver has been providing negative trading since yesterday to approach from testing the intraday bullish channel's support, which meets the EMA50 besides 50% Fibonacci correction level at 17.43. That forms a solid support base there, accompanied by stochastic reach to the oversold areas. It is adding more strength to the mentioned support. Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short-term basis, with its main targets begin tested at 18.30 level. While its continuation conditions are holding above 17.43. The expected trading range for today is between 17.43 support and 18.00 resistance.

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