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Technical analysis of USD/JPY for February 04, 2015

In Asia, Japan will release the Average Cash Earnings y/y. The US will publish several economic reports such as Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, and ADP Non-Farm Employment Change. So, there is a big probability the USD/JPY pair will move with low volatility during the Asian session, but with low to medium volatility during the US session.

TODAY TECHNICAL LEVELS:

Resistance. 3: 118.32.

Resistance. 2: 118.09.

Resistance. 1: 117.86.

Support. 1: 117.58.

Support. 2: 117.35.

Support. 3: 117.12.

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 February 3, 2015

Trading recommendations:
The support of the EUR/USD pair has already set at 1.1270 on February 3, 2015. In the short term, the weekly pivot is acting as a support for a while. Furthermore, it will be very profitable to buy above this level for retesting this level in the long term. Therefore, buy deals are recommended above the level of 1.1270 with targets at 1.1360 and 1.1422 to reach the double top on the H1 chart. On the contrary, the resistance is going to set at the level of 1.1439 (the level of 1.1439 is representing the weekly resistance 1) this week. Consequently, the descending movement will probably be lower than the level of 1.1456 which represents the ratio of 61.8% of Fibonacci retracement levels at the same time frame, with the targets at the weekly pivot point around the area of 1.1268 and 1.1206.

Observations:
We expect a new range about 64-75 pips today.

The key level will be set at the level of 1.1268.

The support of the EUR/USD pair has been already set at 1.1268. Moreover, the major support will set at the 1.1206 level.

If the trend fails to close below the level of 1.1268, it will be a good opportunity to buy above 1.1270 with the first target at 1.13,60 then it will be continued straight towards 1.1422.

The price of 1.1439 is representing the weekly resistance 1 and 1.1422 is going to form a double top.

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

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 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 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 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 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.

InstaForex Loprais Team finishes fourth at Dakar Rally 2015

Ales Loprais' team racked up fourth in the overall standing at Dakar Rally 2015. The off-road truck race kicked off on January 4 in Argentina’s capital Buenos Aires. Participants had to complete 13 stages of the rally stretching across three South American countries: Argentina, Bolivia, and Chile. In total, the route covered 9,000 km. This year, 164 motor bikes, 48 quad bikes, 148 all-terrain vehicles, and 64 trucks took part in the rally.

InstaForex Loprais Team was struggling for the victory in the truck category. The team was competing on three trucks: MAN driven by Ales Loprais and two Tatras. Ales on his truck nicknamed Superman came third at the first stage encouraging his fans to hope for great results. Superman faced a tough challenge at the fourth and fifth stages as the team was driving through dunes the first time ever. However, despite impassable and hazardous sand, InstaForex Loprais team did everything in their power winning the seventh stage of the marathon. So, Ales and his team reached the bivouac alone without the technical support staff. Therefore, they had to carry out minor repair and maintenance on their own.

Each stage brought the team closer to the finish line in Buenos Aires securing its fourth position among the leaders in the overall standing. The final special stage of 33 km dragged out longer due to adverse weather conditions. Bikes and trucks were driving in a line ruling out overtaking because of heavy rain. To the bitter end, InstaForex Loprais team was cherishing the hope to be among the three prize takers. However, the team completed Dakar rally with the fourth result.

The year of 2015 is expected to be abundant in rally events. So, InstaForex Loprais team will have lots of opportunities to show itself to best advantage. Follow the news and root for InstaForex Loprais team!

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.

InstaForex resumes CHF trading

InstaForex informs that its customers can return to normal CHF trading after a temporary halt.
However, there are increased spreads on all CHF instruments at the moment in view of the continuing instability on the forex market.
Please pay attention to current spreads in your trading platform prior to opening a deal.
The move followed a series of important monetary policy decisions taken by the Swiss National Bank last week. The Swiss franc exchange rate rose against all its major peers, thus causing a surge in volatility and general instability on the market that still persists. The Swiss franc is a newsmaker in finance and the hottest topic of discussion on various communication platforms.

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.

CHF trading suspended due to SNB’s decision

The decision made by the Swiss National Bank led to a sharp increase in volatility on financial market and dried-up liquidity.
At this time, trading on all CHF pairs is suspended except for USD/CHF. Please note that spread on this pair increased significantly.
Abrupt franc moves did not affect the company’s operations. Nevertheless, higher spreads on all CHF pairs will be charged for some time more.
Trading on other CHF pairs will be resumed in the nearest future.

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 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

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 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

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.

InstaForex Loprais Team finishes 8th stage of Dakar 2015

On January 11, the 8th stage of the 2015 Dakar Rally came to an end. Despite the loss of time because of navigation mistakes, InstaForex Loprais Team managed to finish fourth losing 20 minutes to the leading crew Kamaz Master.
Ales Loprais was fourth overall after 8 stages of the rally trailing leading Ayrat Mardeev by 59 minutes. Dmitry Sotnikov is on Loprais’ tail losing 15 minutes to InstaForex Loprais Team.
After a bold start and five successful stages, the truck of Ales Loprais stuck in dunes. Only with the help of the other crew, the team was lucky to get to the finish line. However, InstaForex Loprais Team showed great determination and a burning desire to win during the 7th stage of the 2015 Dakar Rally and finished first, thus closing the gap on Kamaz Master, the leader in the overall standings.
After the day-off, the crew of Ales Loprais has five more stages of the 2015 Dakar Rally ahead of them. Regardless of difficult tracks, they hope to make up for lost time and jostle for a prize place.

Hello incredibleace,

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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/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!

Christmas in Liverpool: how it was

In November 2014 three lucky traders won the main prize offered by the Christmas in Liverpool campaign. The winners are Gabil Agaev, Norhafizah Binti Abu Bakar, and Pavel Pupko. However, two of three winners opted to choose bonuses. And only Pavel Pupko from St. Petersburg, the real football fan, met Christmas in one of the UK’s popular cities.

On Christmas Eve, Pavel arrived at the homeland of the legendary The Beatles. He stayed at a design boutique hotel located 5 minutes walk from the River Mersey with stunning views of the city. During two days in Liverpool, Pavel went on a sightseeing walking tour and visited the best restaurants in the city. Prior to the game, he did an exclusive tour of Anfield, the home of Liverpool FC. Anfield Stadium’s capacity is over 45,000 seats. Moreover, it is known as the UK’s most ‘singing’ stadium.

On December 29, Pavel watched the Christmas match, the Premier League Boxing Day game at a VIP private box. After a breathtaking game, the winner had a dinner with the football club’s representatives and partners at the Hall of Fame room.

Pavel was very excited about the trip: “Greetings to all of the team members and thank you for a wonderful trip! I loved it very much though I have traveled through Europe a lot. What I think is that it’s quite humdrum, but England is something special. The football match was very interesting, and I felt Liverpool’s power and advantage from the very beginning. I was also pleasantly surprised by the organization of the game as there were no aggressive football fans and firecrackers. Thanks for such a great experience!”

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

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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

Dear clients and partners,

InstaForex sends you belated wishes on Merry Christmas and congratulates on the forthcoming New Year’s Eve. We wish you and your nearest and dearest good luck in your career and private life, exciting journeys, and terrific new friends. The most important, may this year of 2015 be a year of health, happiness, and love. The expiring year of 2014 has been difficult for active and ambitious people. All of us have been affected by the complicated economic situation, high volatility on markets, and other global economic factors. We hope you have overcome all troubles and met the challenge without losses. You have become stronger, wiser, and more experienced.

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Once again, InstaForex is happy to congratulate you on the nearest holidays. Have a lot of fun on the New Year Eve and during the whole 2015!

Spend new 2015 together with InstaForex!

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 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 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

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