Hello Rozayx5,

We are sorry for your losses, but so you could understand the process, let us explain: when you deposit your funds via Liberty Reserve, those funds are held on Liberty Reserve account. And when LR shoots down, all your funds you transferred to this system disappear with this system. We don't hold any of those funds, because all those funds had gone with that system, that's why you cannot get them from us. When we offer you 50% of your deposit, we are going to pay you with OUR funds. When that system operated, have we ever hold any of the funds you deposited via it? - No, we didn't. So the problem is not in our company, but in Liberty Reserve. The broker cannot be a guarantor of an e-payment processor. You could choose more trusted payment method, but you used this one, so the company cannot be responsible for your choice.

Hello Benpuzzy,

He is not right, and I have as well responded to his mail.

Technical analysis of USD/JPY for December 23, 2014

Fundamental overview:
USD/JPY is expected to consolidate with a bullish bias after hitting a two-week high 120.19 this morning. Liquidity is thin as financial markets in Japan are shut Tuesday for a public holiday and global trading volumes have shrunk ahead of the Christmas holiday period. USD/JPY is supported by a smaller safe-haven appeal of the yen and yen-funded carry trades as positive risk sentiment prevails (VIX fear gauge eased 7.52% to 15.25, S&P 500 closed up 0.38% at 2,078.54 overnight) following last week's Federal Reserve message expressing confidence in the U.S. economy but pledging to be "patient" on raising interest rates. USD/JPY is also supported by the positive dollar sentiment (ICE spot dollar index hit eight-and-a-half year high 89.794 overnight; last 89.742 versus 89.650 early Monday) as expectations that the Fed would raise interest rates sooner than other central banks and rise in Chicago Fed National Activity Index to +0.73 in November from +0.31 in October overshadowed a bigger-than-expected 6.1% drop in U.S. November existing-home sales (versus forecast -1.1%); sell-yen orders from Japan's importers as well as Bank of Japan's large-scale monetary easing policy. But USD/JPY gains are tempered by the buy-yen orders from Japan's exporters. Slew of U.S.

Technical comment:
Daily chart mixed as MACD bearish but stochastics bullish, five-day moving average rising above 15-day moving average, bullish parabolic stop-and-reverse signal hit Monday.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 120.80 and the second target at 121.20. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 119.10. A break of this target would push the pair further downward and one may expect the second target at 118.40. The pivot point is at 119.65.

Resistance levels:
120.80
121.20
121.50

Support levels:
119.10
118.40
117.75

Technical analysis of EUR/USD for December 29, 2014

There is no news release during this day, so be careful due to the lack of liquidity and low volatility in the quiet market.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.2242.

Strong Resistance:1.2235.

Original Resistance: 1.2223.

Inner Sell Area: 1.2211.

Target Inner Area: 1.2182.

Inner Buy Area: 1.2158.

Original Support: 1.2141.

Strong Support: 1.2129.

Breakout SELL Level: 1.2122.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/JPY for January 05, 2015

Technical outlook and chart setups:

The EUR/JPY pair has dropped into 143.00 levels before bouncing back sharply. This was discussed and expected last week. �Please note that the pair has bounced off the fibonacci 0.382 levels at the moment. A bullish recovery here could see prices rallying into 147.00 levels easily, if not further. It is recommended to initiate long positions now (143.90/95), with very tight risk just below 143.00 levels. Immediate support is seen at 143.00 (interim), followed by 142.00 and lower while resistance is seen at 145.50, followed by 147.00, 148.00 and 149.50 respectively. The pair might have finished correction for at least short term and a bullish bounce should be expected here.

Trading recommendations:

Initiate long positions, stop at 142.70, target is open.

Good luck!

Technical analysis of USD/JPY for January 06, 2015

Fundamental overview:

USD/JPY is expected to trade in lower range. It is undermined by the flows to haven JPY and unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 11.97% to 19.92, S&P 500 closed 1.83% lower at 2,020.58 overnight) as concerns mount over a possible Greek exit from the eurozone, while a renewed slide in oil prices to fresh five-and-a-half year lows and news that German inflation had fallen to a five-year low in December raised an uncertain global growth outlook. USD/JPY is also weighed by the lower U.S. Treasury yields (10-year at 2.035% versus 2.123% late Friday) and Japan exporter sales. But USD/JPY losses are tempered by the demand from Japan importers, Bank of Japan's large-scale monetary easing policy and bullish USD sentiment (ICE spot dollar index hit nine-year high 91.775 Monday, last at 91.39) amid expectations that the U.S. economy will pull ahead of the rest of the world this year and that the Federal Reserve would start raising interest rates in coming months ahead of other major central banks and jump in U.S. ISM-NY business index to 70.8 in December from 62.4 in November.

Technical comment:
Daily chart is mixed as MACD is bearish, stochastics is turning bearish at overbought levels, but five-day moving average is meandering sideways above rising 15-day moving average.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 120.30 and the second target at 120.75. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 118.80. A break of this target would push the pair further downward and one may expect the second target at 118.30. The pivot point is at 119.90.

Resistance levels:
120.30
120.75
121

Support levels:
118.80
118.30
118

Good day,
Pls what is the minimum that can be drawn from ones account with Instanforex?

Pls what is the minimum that can be drawn from ones account with Instanforex?

Dear Mr/Mrs Mount,

The minimum that can be drawn from once account with InstaForex actually depends on the type of means of withdrawal:
For Transfer is $3 dollars.

You can also visit our website at www.instaforex.com

Do not hesitate to ask us any further question.

Thank you.

Technical analysis of USD/JPY for January 10, 2015

Fundamental overview:
USD/JPY is expected to trade in a lower range. Liquidity is thin in Asia on Monday as financial markets in Japan are shut for a public holiday. USD/JPY is undermined by the weaker dollar sentiment (ICE spot dollar index last 91.78 versus 92.31 early Friday) as weaker-than-expected 0.17% on-year rise in U.S. December average hourly earnings (versus forecast +0.2%) pushed back expectations for a Federal Reserve rate rise this year, overshadowing stronger-than-expected 252,000 increase in U.S. non-farm payrolls (versus +240,000 forecast) and lower-than-expected U.S. unemployment rate of 5.6% (versus forecast 5.7%). USD/JPY is also weighed by the selling of yen crosses amid decreased risk appetite (VIX fear gauge rose 3.17% to 17.55, S&P 500 closed 0.84% lower at 2,044.81 Friday) on the unexpectedly weak U.S. wage growth, lower U.S. Treasury yields (2-year at 0.577% versus 0.613% late Thursday), buy-yen orders from Japan's exporters. But USD sentiment is soothed by the larger-than-expected 0.8% increase in U.S. November wholesale inventories (versus forecast +0.4%). USD/JPY losses are also tempered by the sell-yen orders from Japan's importers and Bank of Japan's large-scale monetary easing policy.

Technical comment:
Daily chart is negative-biased as MACD and stochastics are bearish, five-day moving average is below 15-day moving average and is declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 117.30. A break of this target will move the pair further downward to 117. The pivot point stands at 119. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 119.40 and the second target at 119.95.

Resistance levels:
119.40
119.95
120.35

Support levels:
117.30
117
116.75

InstaForexyemi:
Hello Rozayx5,

We are sorry for your losses, but so you could understand the process, let us explain: when you deposit your funds via Liberty Reserve, those funds are held on Liberty Reserve account. And when LR shoots down, all your funds you transferred to this system disappear with this system. We don't hold any of those funds, because all those funds had gone with that system, that's why you cannot get them from us. When we offer you 50% of your deposit, we are going to pay you with OUR funds. When that system operated, have we ever hold any of the funds you deposited via it? - No, we didn't. So the problem is not in our company, but in Liberty Reserve. The broker cannot be a guarantor of an e-payment processor. You could choose more trusted payment method, but you used this one, so the company cannot be responsible for your choice.

you dont hold the funds?

what do you credit to traders account and how do you pay traders when they make profit if you say those funds are held by liberty and not instaforex.

when a traders account is blown, how does it work if you say the fund traders deposited with you was not with you but liberty reserve

if liberty did not go under, what would have happened to traders fund deposited through you

aguiyi:




you dont hold the funds?

what do you credit to traders account and how do you pay traders when they make profit if you say those funds are held by liberty and not instaforex.

when a traders account is blown, how does it work if you say the fund traders deposited with you was not with you but insta.

if insta did not go under, what would have happened to traders fund deposited through you

insta is a fraud dont mind them, one day they will close overnight like Liberty reserve and disappear into thin air, bucket shop company that cant get a decent regulation till now

rozayx5:


please avoid insta to avoid stories that touch

when you make profits on gaps at market open your profit is cancelled - if you make loss it is recorded

if you make profit from news trade your profit is cancelled - if you make loss nothing happens

if you make more than 10% of your account on a gold trade the profit is cancelled

xm . com
exness . com
fxcm
^^

please recommend the best broker to me ,thank you in anticipation

bisous:


please recommend the best broker to me ,thank you in anticipation

i use xm
and they are ok
exness is also good if you want to use e currency

rozayx5:


i use xm
and they are ok
exness is also good if you want to use e currency

Thanks a lot.
I hope It won't be too much to ask to ask to learn the ropes from you as I start the journey

Technical analysis of EUR/JPY for January 13, 2015

Technical outlook and chart setups:

The EUR/JPY pair drops marginally below 140.00 levels for now taking stops out at 139.50. The pair could still turn bullish from current levels since it remains within the fibonacci 0.618 support at 140.00 levels as seen here. A bullish turn around from current levels could be bought aggressively, with risk just below 139.50. Immediate support is seen at 137.00, followed by 136.00 and lower while resistance is seen at 141.50/142.00, followed by 145.00, 147.00 and higher up respectively. The fall from 149.80 levels could still be treated as corrective in nature and bulls can regain control back till the pair remains above 134.00/135.00 levels.

Trading recommendations:

Remain flat for now. Turn bullish again on a turn around at current levels, stop at 139.00, the target is open.

Good luck!

bisous:

Thanks a lot.
I hope It won't be too much to ask to ask to learn the ropes from you as I start the journey

always available, you can visit babypips.com
the forex alert thread
my research room ( check my profile)

rozayx5:


always available, you can visit babypips.com
the forex alert thread
my research room ( check my profile)

Thank you :-)

Technical analysis of EUR/JPY for January 14, 2015

Technical outlook and chart setups:

The EUR/JPY has dropped below 139.00 levels, yet again stopping us out. The pair is seen trading at sub 138.00 levels for now and immediate support could be seen at the 137.50 levels, which is the fibonacci 0.786 support of the rally from 134.00 to 149.80 respectively. It is recommended to remain flat for now and watch out for a reaction at 137.50 levels. Immediate support is seen at 137.50, followed by 137.00, 136.50 and lower, while resistance is seen at 140.50, followed by 141.50, 145.50 and higher up respectively. Bulls need to break above 140.50 levels at least, to regain control back now.

Trading recommendations:

Remain flat for now.

Good luck!

Technical analysis of EUR/USD for January 15, 2015

When the European market opens, some economic news will be released such as Trade Balance. The US will release the economic data too such as the Natural Gas Storage, Philly Fed Manufacturing Index, Empire State Manufacturing Index, Core PPI m/m, Unemployment Claims, and PPI m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1832.

Strong Resistance:1.1825.

Original Resistance: 1.1813.

Inner Sell Area: 1.1801.

Target Inner Area: 1.1774.

Inner Buy Area: 1.1746.

Original Support: 1.1734.

Strong Support: 1.1722.

Breakout SELL Level: 1.1715.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of GBP/JPY for January 16, 2015

Fundamental overview:
GBP/JPY is expected to consolidate with a bearish bias. It is undermined by the flows to haven yen amid increased investor risk aversion and the weak euro sentiment. But GBP/JPY losses are tempered by the demand from Japan's importers and positions adjustment ahead of the weekend.

Technical comment:
Daily chart is negative-biased as MACD is bearish, stochastics stays suppressed at oversold levels, five- and 15-day moving averages are declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 176. A break of this target will move the pair further downward to 175.15. The pivot point stands at 178.40. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 179.60 and the second target at 180.10.

Resistance levels:
179.60
180.10
181

Support levels:
176
175.15
174.65

rozayx5:


i use xm
and they are ok
exness is also good if you want to use e currency

pls, what is xm's website?

Elliott wave analysis of EUR/JPY for January 19 - 2015

Technical summary:

It's "Make it or break it" time. Support at 134.13 needs to protect the downside for a break above minor resistance at 136.87 and more importantly resistance at 138.79 confirming that a bottom is in place and a new impulsive rally is developing. If however, support at 134.13 is broken, then our working count will be proven wrong and a revaluation of the longer term count will be needed. This new count, if necessary, will call for a continuation lower towards 128.38.

Trading recommendation:

We will only buy a break above minor resistance at 136.87, with a stop+reverse at 134.10.

Technical analysis of EUR/USD for January 20, 2015

When the European market opens, some economic news will be released such as ZEW Economic Sentiment, German ZEW Economic Sentiment, Italian Trade Balance, and German PPI m/m. The US will publish the economic data too such as the NAHB Housing Market Index. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:
Breakout BUY Level: 1.1639.
Strong Resistance:1.1632.
Original Resistance: 1.1621.
Inner Sell Area: 1.1610.
Target Inner Area: 1.1583.
Inner Buy Area: 1.1556.
Original Support: 1.1545.
Strong Support: 1.1534.

Breakout SELL Level: 1.1527.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

https://forex-images.instaforex.com/userfiles/20150120/!EURUSD_source!.jpg

Technical analysis of USD/JPY for January 21, 2015

In Asia, Japan will release the BOJ Press Conference, All Industries Activity m/m, and Monetary Policy Statement. The US will publish some economic reports such as Housing Starts and Building Permits. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 119.01.

Resistance. 2: 118.78.

Resistance. 1: 118.55.

Support. 1: 118.26.

Support. 2: 118.03.

Support. 3: 117.80.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of USD/JPY for January 22, 2015

In Asia, Japan will release the BOJ Monthly Report. The US will release a batch of economic data such as Crude Oil Inventories, Natural Gas Storage, HPI m/m, Unemployment Claims, and Minimum Bid Rate. As for the euro area, some important events are expected in the economic calendar such as ECB Press Conference, Italian Retail Sales m/m, and Spanish Unemployment Rate. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.65.

Resistance. 2: 118.42.

Resistance. 1: 118.19.

Support. 1: 117.91.

Support. 2: 117.88.

Support. 3: 117.44.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/USD for January 23, 2015

When the European market opens, a batch of economic reports will be released such as Belgian NBB Business Climate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PM, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI. The US will release some economic data too such as the CB Leading Index m/m, Existing Home Sales, and Flash Manufacturing PMI. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1418.

Strong Resistance:1.1411.

Original Resistance: 1.1400.

Inner Sell Area: 1.1389.

Target Inner Area: 1.1362.

Inner Buy Area: 1.1335.

Original Support: 1.1324.

Strong Support: 1.1313.

Breakout SELL Level: 1.1306.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/USD for January 26, 2015

When the European market opens, some economic news will be released such as German Ifo Business Climate. However, the US economic calendar lacks any reports. So, in this context EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1219.

Strong Resistance:1.1213.

Original Resistance: 1.1202.

Inner Sell Area: 1.1191.

Target Inner Area: 1.1165.

Inner Buy Area: 1.1139.

Original Support: 1.1128.

Strong Support: 1.1117.

Breakout SELL Level: 1.1111.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/USD for January 27, 2015

When the European market opens, no economic news are expected today from the eurozone. The US will release a number of economic reports such as the Richmond Manufacturing Index, New Home Sales, CB Consumer Confidence, Flash Services PMI, S&P/CS Composite-20 HPI y/y, Durable Goods Orders m/m, and Core Durable Goods Orders m/m. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1289.

Strong Resistance:1.1283.

Original Resistance: 1.1272.

Inner Sell Area: 1.1261.

Target Inner Area: 1.1235.

Inner Buy Area: 1.1209.

Original Support: 1.1198.

Strong Support: 1.1187.

Breakout SELL Level: 1.1181.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/USD for January 28, 2015

When the European market opens, some economic news will be released such as German 30-y Bond Auction, German Import Prices m/m, and GfK German Consumer Climate. Besides, the US will release some economic reports such as the Federal Funds Rate, FOMC Statement, and Crude Oil Inventories. So, amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1411.

Strong Resistance:1.1404.

Original Resistance: 1.1393.

Inner Sell Area: 1.1382.

Target Inner Area: 1.1355.

Inner Buy Area: 1.1328.

Original Support: 1.1317.

Strong Support: 1.1306. Breakout SELL Level: 1.1299. Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of EUR/USD for January 29, 2015

When the European market opens, some economic news will be released such as Italian 10-y Bond Auction, Private Loans y/y, M3 Money Supply y/y, German Unemployment Change, and German Prelim CPI m/m. The US will release the economic data too such as the Natural Gas Storage, Pending Home Sales m/m, and Unemployment Claims. So, amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1342.

Strong Resistance:1.1336.

Original Resistance: 1.1325.

Inner Sell Area: 1.1314.

Target Inner Area: 1.1288.

Inner Buy Area: 1.1262.

Original Support: 1.1251.

Strong Support: 1.1240.

Breakout SELL Level: 1.1234.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Technical analysis of NZD/USD for January 30, 2015

Fundamental overview:
NZD/USD is expected to consolidate with bearish bias after hitting near a four-year low 0.7228 on Thursday. The kiwi is hurt by the shift in the Reserve Bank of New Zealand's monetary stance from tightening bias to neutral. NZD/USD is also weighed by the Fonterra cutting its milk volume forecast for the year ending on May 31 by 3.3% from its prior forecast to 1.53 billion kg of milk solids, by 2.1% drop in the New Zealand December building consents issued and bu the bullish dollar sentiment. But NZD/USD losses are tempered by the positive risk sentiment, the kiwi demand on retreating AUD/NZD cross and positions adjustment ahead of the weekend.

Technical comment:
The daily chart is negative-biased as the MACD is bearish, stochastics stays suppressed at oversold levels, five- and 15-day moving averages are declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.7235. A break of this target will move the pair further downward to 0.7210. The pivot point stands at 0.7350. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.7440 and the second target at 0.7465.

Resistance levels:
0.7440
0.7465
0.75

Support levels:
0.7235
0.7210
0.7145

Technical analysis of GBP/JPY for Feburary 02, 2015

Fundamental overview:
GBP/JPY is expected to trade in a lower range. It is undermined by the increased investor risk aversion and Japan's exports. But GBP/JPY losses are tempered by the demand from the Japanese importers. The GBP sentiment is supported by better than expected improvement in the UK GfK consumer confidence index to +1 in January from -4 in December (versus forecast for -2).

Technical comment:
The daily chart is mixed as the MACD is bearish, but stochastics is rising from oversold levels; five-day moving average is meandering sideways below falling 15-day moving average.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 176.45. A break of this target will move the pair further downward to 175.71. The pivot point stands at 178.00. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 179.45 and the second target at 180.20.

Resistance levels:
179.45
180.20
180.90

Support levels:
176.45
175.70
175

https://forex-images.instaforex.com/userfiles/20150202/GBPJPYM30.png