Daily analysis of EUR/JPY for April 21, 2017

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Daily analysis of EUR/JPY for April 21, 2017

Daily Video Technical Analysis | AUD/NZD | 21st April 2017

We take a nice detailed look at AUD/NZD and see if there are any trading opportunities for us to make some juicy pips!

We combine the art of Fibonacci retracements, Fibonacci extensions, Support & Resistance along with Stochastic and the RSI to determine the best entry, stop loss and profit targets.

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

Daily analysis of EUR/JPY for April 21, 2017

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Overview

The EUR/JPY pair touched 117.80 levels yesterday and surpassed the broken support line renewing bullish attempts and providing a positive close above this support that will threat the negative stability and help the price regain its bullish bias by consolidating within the bullish channel again. To confirm the bullish attempts, the price needs to hold above 116.80 levels providing it with positive strength that will push the price towards 118.55 followed by attempting to reach the 23.6% Fibonacci correction level at 120.70. Therefore we will expect the bullish bias in case the mentioned conditions are fulfilled. The expected trading range for today is between 116.80 and 118.55.

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Daily analysis of USD/JPY for April 21, 2017

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Overview

The USD/JPY pair fluctuates around the rising wedge's resistance that confines the recent trading. The EMA50 keeps pushing the price negatively, while Stochastic shows clear negative signals on the four-hour time frame. Therefore, the bearish trend scenario will remain valid for the upcoming period, and a break of 108.60 levels will ease the mission of heading towards our next target at 106.63. A breach of 109.30 will lead the price to test the key resistance at 111.65 on the near-term basis. The expected trading range for today is between the 108.00 support and the 109.90 resistance.

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Daily analysis of GBP/JPY for April 21, 2017

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Overview

The GBP/JPY pair is affected by new positive pressures as Stochastic is approaching the overbought areas, thus the pressure on the initial barrier at 140.10 renewed. We expect the price to make new bullish attempts to breach this barrier and start targeting new positive levels at 141.85 followed by 143.30 in order to test the 23.6% Fibonacci correction level. The stability of the moving average 55 around 139.30 levels blocks the price within the bullish range, increasing the pressure on the current barrier and confirming the domination of the bullish bias in the near and medium terms. The expected trading range for today is between 139.30 and 141.80.

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Daily analysis of Gold for April 21, 2017

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Overview

Gold price keeps its stability above the EMA50 that forms good support base for the intraday trading. To enable trading inside the bullish channel displayed on chart, we are waiting until the bullish bias resumes. The first upward target is located at 1,300.00. Therefore, we will keep our bullish outlook unless 1263.17 is broken and holds below it. Breaking this level will push the price to visit the main bullish channel's support around 1,230.00 before any new attempt to rise. Please, note that breaching 1,300.00 will extend the bullish wave to reach 1,340.00. The expected trading range for today is between 1270.00 support and 1300.00 resistance.

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Daily analysis of Silver for April 21, 2017

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Overview

Silver price broke the intraday bullish channel's support, which forms a negative factor that is expected to push the price to test 17.43 before turning back to rise again. Therefore, the bearish bias is suggested temporarily. We are waiting for a bounce to resume the main bullish trend. The main target is seen at 19.38. Please note that breaching 18.30 will stop the current negative pressure and lead the price to rise without the need to visit the above mentioned level. The expected trading range for today is between 17.70 support and 18.20 resistance.

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