Technical analysis on EU,GU and major pairs-part 2

[johny5]

Technical analysis of USD/JPY for January 19, 2015

In Asia, Japan will release the Consumer Confidence report and Revised Industrial Production m/m. The US will not release any economic data because of Martin Luther King National Holiday. So, there is a big probability the USD/JPY pair will move with low volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 117.77.
Resistance. 2: 117.54.
Resistance. 1: 117.31.
Support. 1: 117.03.
Support. 2: 116.80.
Support. 3: 115.56.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Technical analysis of Gold for January 19, 2015

Technical outlook and chart setups:
Gold has raised through the $1,282.00 levels as seen here, and is testing the sloping trend line resistance at the moment. Also the initial Fibonacci extension has been met at the $1,279.00 levels, hence a pullback could be expected. It is recommended to remain flat for now and watch for a reaction at the trend line resistance around the $1,278.00/79.00 levels. On the flip side, a push higher from here could reach the $1,304.00/05.00 levels as depicted here. Immediate support is now seen at the $1,235.00/40.00 levels, followed by $1,210.00, $1,170.00 and lower while resistance is seen at $1,300.00/05, followed by $1,320.00, $1,340.00 and higher respectively.
Trading recommendations:
Remain flat for now and look for buying on dips. Good luck!

Performed by Harsh Japee, Analytical expert

 

[johny5]

Technical analysis of Silver for January 19, 2015

Technical outlook and chart setups:
Silver pushed through the initial resistance at the $17.80/82 levels on Friday. The metal is unfolding into a potential inverted head and shoulder reversal as it has been discussed earlier. The metal could retrace lower through $16.75/$17.00 levels again, before rallying higher towards $18.20/30 and $19.20 levels respectively. It is still recommended to hold positions taken earlier and look for adding further on dips, some profits could be fixed around $18.30 levels. Immediate support could be seen around $16.60/70 levels followed by $16.20/30 and lower while resistance is seen around $18.30 levels and $19.20 respectively (Fibonacci levels).
Trading recommendations:
Remain long, move stop to $16.00 levels, target is $18.30 and $19.20. Good luck!

Performed by Harsh Japee, Analytical expert