Daily analysis of GBP/JPY for January 19, 2018

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Overview

The GBP/JPY pair provided a new positive close recently above 153.70 level to confirm the domination of the bullish bias. The pair is expected to resume the expected positive attack. The stochastic has reached the overbought level that eases the way towards gaining extra momentum. The pair is to achieve more of the targets by reaching 155.90 initially, which forms 50% Fibonacci correction level. We should mention that the price tried to reach below 153.70 level that might force it to delay the bullish rally. This move maks the pair suffer some gains by attempting to test the initial support at 151.50. The expected trading range for today is between 153.70 and 155.90

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

Daily analysis of Gold for January 19, 2018

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Overview

Gold price keeps trading with a bullish bias to move away from the key support of 1,321.49. We still suggest the bullish scenario valid for the short term.Let me remind you that our next target is located at 1,357.53 as breaching it represents the key to rally towards 1,375.00 followed by 1,404.00 levels as the next main stations. Therefore, the bullish trend will remain dominant for the rest of the day unless breaking 1,321.49 level and holding below it. The expected trading range for today is between 1,320.00 support and 1,345.00 resistance.

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

Daily analysis of Silver for January 19, 2018

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Overview

Silver price continues to fluctuate around 17.00 level, while stochastic attempts to gather the positive momentum on the daily time frame. In general, the bullish trend scenario remains active in the short term as long as 16.55 level is intact. Let me remind you that our upward targets begin at 17.43 and extend to 18.30 after breaching the previous level. The expected trading range for today is between 16.85 support and 17.30 resistance.

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