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Important JPY Pairs’ Technical Overview: 28.11.2018

By:
Anil Panchal
Updated: Nov 28, 2018, 11:43 UTC

USD/JPY Following its pullback from 112.30, the USDJPY is again preparing to conquer 114.05-10 horizontal-resistance; however, a closing break above the

Important JPY Pairs' Technical Overview: 28.11.2018

USD/JPY

Following its pullback from 112.30, the USDJPY is again preparing to conquer 114.05-10 horizontal-resistance; however, a closing break above the same is required for the pair to aim for 114.55 & 114.75 numbers to north. In case prices manage to provide a D1 close beyond 114.75, the 61.8% FE level of 115.35 and the 115.50 could entertain buyers prior to pleasing them with 116.00 round-figure. On the downside, 112.90 & 112.50 may limit the pair’s near-term declines before highlighting the 112.30, the 100-day SMA level of 112.15 and an upward slanting trend-line, at 112.00, as supports. Assuming the pair’s dip beneath 112.00, the 111.30 & 110.70 might offer intermediate halts during its plunge to 110.35, comprising 200-day SMA.

EUR/JPY

EURJPY is also struggling with immediate resistance-line and can drop to 127.75 but an ascending TL, at 127.25, could challenge sellers then after. Given the pair’s refrain to respect 127.25, the 126.65-60 support-zone may gain market attention as break of which might not hesitate fetching the quote to the 126.00, the 124.95 and the 124.60 consecutive rest-points. Should the pair surpasses 128.75 adjacent barrier, it can quickly rise to 129.10 & 200-day SMA level of 129.85. Moreover, pair’s successful north-run above 129.85 could take a break near 130.00 ahead of targeting 130.55 & 131.40 resistances.

AUD/JPY

With three week long descending trend-line still being unbroken, chances of the AUDJPY’s dip to 81.85 and then to 81.65 support-line can’t be denied. If at all the pair keep trading southwards past-81.65, the 81.20, the 81.00 and the 80.40-35 may question the Bears whereas break of 80.35 could flash 80.00 & 79.75 on the their radars. Meanwhile, an upside clearance of 82.55 resistance-line can escalate the pair’s recovery to 82.80 & 83.05. Though, pair’s advances beyond 83.05 may push Bulls to opt for 61.8% FE level of 83.65 as landmarks.

CHF/JPY

Even after crossing 50-day SMA, the CHFJPY is yet to break the 113.90-95 resistance-region in order to claim the 114.20 & the 114.70 levels. In case the pair maintains strength above 114.70, the 115.05-10 can try confining its rally, if not then 115.60 & 116.00 may mark their presence on the chart. Alternatively, 113.40 & 113.00 seem immediate supports for the pair, breaking which 112.50 and an ascending support-line, at 111.90, should be observed closely. Given the pair’s sustained downturn below 111.90, the 111.50 & 110.90 may become pessimists’ favorites.

About the Author

An MBA (Finance) degree holder with more than five years of experience in tracking the global Forex market. His expertise lies in fundamental analysis but he does not give up on technical aspects in order to identify profitable trade opportunities.

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