Daily analysis of GBP/JPY for January 12, 2018

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Overview

Though the GBP/JPY pair has been trading positively recently, its stability below 152.85 level confirms that bears will dominate in this pair in the short and medium term. Therefore, we will keep the negative suggestion and wait for the pair to gather new negative momentum that allows it to achieve the correctional target at 149.50. The continuation of stochastic stability within the oversold level will provide extra negative momentum that confirms the suggested negativity. The expected trading range for today is between 151.50 and 149.60

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Daily analysis of USD/JPY for January 12, 2018

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Overview

The USD/JPY pair managed to touch our second expected target at 111.00. The pair and has settled near it, falling under the effect of a negative formation that appears on the chart. This supports the chances of breaking the mentioned level and opening the way to extend the bearish wave towards 110.15 as the next target. Therefore, we will continue to suggest the bearish trend in the upcoming sessions, supported by the negative pressure provided by the EMA50. The bearish trend will be in progress unless we witness a clear breach to 111.90, followed by 113.00 levels and held above them. The expected trading range for today is between 110.30 support and 112.00 resistance.

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Daily analysis of Gold for January 12, 2018

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Overview

Gold price provided clear positive trading to move away from the key support 1,321.49. This supports the continuation of our bullish outlook for the rest of the day. The metal finds continuous positive support by the EMA50. Let me remind you that our next main target is located at 1,357.53, while holding above 1,321.49 represents the first condition to continue the suggested bullish wave. The expected trading range for today is between 1,320.00 support and 1,340.00 resistance.

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

Daily analysis of Silver for January 12, 2018

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Overview

Recent trades with silver are confined within a bullish flag pattern that appears on the chart. This means that breaching 17.15 will activate the positive effect of this pattern and push the price to continue the main bullish trend. Therefore, we believe that the chances are valid to rise even higher in the upcoming sessions. We are waiting until a breach of 17.43 confirms that the price is in the way towards 18.30 in the near term. Let me reminding you that it is important to hold above 16.55, so that the price hits our suggested targets. The expected trading range for today is between 16.95 support and 17.30 resistance.

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