Thread: InstaForex Wave Analysis

USD/JPY intraday technical levels for November 21, 2013






In the early morning after the Asian market start, there will be a release of some news from Japan like Monetary Policy Statement; BOJ Press Conference; and during the US market session, there will be a release of some important news such as the US - PPI m/m; US - Unemployment Claims; and some not very important news such as the US - Flash Manufacturing PMI; and the US Natural Gas Storage US - Flash Manufacturing PMI; and the US - Philly Fed Manufacturing Index . We predict the price action of this pair will be under moderate volatility within the US session.


TODAY's TECHNICAL LEVELS:
Resistance. 3 : 100.89.
Resistance. 2 : 100.69.
Resistance. 1 : 100.36.
Support. 1 : 100.25.
Support. 2 : 100.05.
Support. 3 : 99.85.


DESCRIPTION: Please, pay attention to the levels of support 3 (99.85) and resistance 3 (100.89). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.




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USD/JPY intraday technical levels for November 22, 2013






Today we predict the USD/JPY price movement will be with slow to moderate volatility, because during the Asian session Japan will release the BOJ Monthly Report. During the US trading sesssion, no important and significant news is due to be released, only FOMC Member George Speech and the US - JOLTS Job Openings.


TODAY's TECHNICAL LEVELS:
Resistance. 3 : 100.73.
Resistance. 2 : 100.53.
Resistance. 1 : 100.33.
Support. 1 : 100.09.
Support. 2 : 100.89.
Support. 3 : 100.69.


DESCRIPTION:
Please, pay attention to the levels of support 3 (100.69) and resistance 3 (100.73). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.



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Elliott wave analysis of EUR/JPY for November 25, 2013



Today's Support and Resistance levels:
R3: 138.76
R2: 138.30
R1: 138.01
Current Spot: 137.76
S1: 137.33
S2: 137.02
S3: 136.60


Technical summary:
We should be in the very last part of the ending diagonal. The maximum for this final wave v will be in the 138.21-138.31 range depending on where the high of wave iii is placed. If we does see a break above 138.31, then the ending diagonal can not be the correct count as wave iii can never be the shortest wave and that would be the case here, if we does break above 138.31. However, for now we maintain the view that an ending diagonal is developing and should be close to its maximum. To confirm that wave v is in place, we need a break below 137.02 and more importantly a break below 136.02, which will confirm that wave v is in place for a decline towards at least 124.96.


Trading recommendation:
If you are long in EUR, lift your stop to 137.02. Take profit on any long position and sell EUR at 138.20 with a close stop at 138.35.


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USD/JPY intraday technical levels for November 26, 2013





Today during the Asian session there will be news like CSPI y/y and the Monetary Policy Meeting Minutes released. And in the US trading session there will be some important news like the US Building Permits and US CB Consumer Confidence released, so there is a possibilities the price action of the USD/JPY will get their volatility in a moderate way at the US market session.


TODAY's TECHNICAL LEVELS:
Resistance. 3 : 101.99.
Resistance. 2 : 101.79.
Resistance. 1 : 101.59.
Support. 1 : 101.35.
Support. 2 : 101.15.
Support. 3 : 100.95.


DESCRIPTION:
Please, pay attention to the levels of support 3 (100.95) and resistance 3 (101.99). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.


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USD/CHF technical analysis for November 27, 2013








Overview:
It should be noted that the price of the USD/CHF pair has still been trapped between 0.9030 and 0.9085. The price has been set below strong resistance at the levels of 0.9195 (0.9230: 50% of Fibonacci retracement levels in H4 chart). Additionally, it is worth noting that these levels coincide between 61.8% and 78.6% of Fibonacci retracement levels in H4 chart; thereupon, the pair has already formed strong resistance at this level of 0.9200, and it is now approaching it in order to test it. Therefore, the possibility that the Swissy will have a downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9200, in consequence it will be a good sign to sell below 0.9195 with the first target of 0.9083. It is equally important that it will call for downtrend in order to continue bearish trend towards 0.9025.
On the other hand, it is also worthy of note that the price at 0.9020 - 0.9027 will possibly form a strong support (38.2% of Fibonacci retracement levels in H4 chart). Accordingly, saturation around 1.9020 to rebound the pair is likely to occur. Furthermore, it is possible that the market is going to start showing the signs of the bullish market. Hence, it will be a good sign to buy above 0.9020 with the first target of 0.9080 and continue towards 0.9173.




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USD/JPY Intraday Technical Levels for November 28, 2013






We predict today the USD/JPY will move from slow to moderate because a few news will be released, during the Asian sesion there is only one news release from Japan: Retail Sales y/y, and the US market is closed for the Thanksgiving holiday.


TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.58.
Resistance. 2 : 102.38.
Resistance. 1 : 102.18.
Support. 1 : 101.93.
Support. 2 : 101.73.
Support. 3 : 101.53.


DESCRIPTION:
Please, pay attention to the levels of support 3 (101.53) and resistance 3 (102.58). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it is a sign that these currencies have found trends today.



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USD/JPY Intraday Technical Levels for November 29, 2013






The USD/JPY seems to move in slow to moderate volatility during the Asian session but will move in a slow condition in the US market as long as there is no intervention from the "big player" during the quite US market session because many of the market participant from the US and Canada take their long holiday weekend because of the Thanksgiving Day's celebration. At the Asian market session from Japan will release some news like Manufacturing PMI, Household Spending y/y, Tokyo Core CPI y/y, National Core CPI y/y, Unemployment Rate, Prelim Industrial Production m/m, and Housing Starts y/y.


TODAY's TECHNICAL LEVEL :
Resistance. 3 : 103.05.
Resistance. 2 : 102.85.
Resistance. 1 : 102.65.
Support. 1 : 102.40.
Support. 2 : 102.20.

Support. 3 : 102.00.


DESCRIPTION :
Please, pay attention to the levels of support 3 (102.00) and resistance 3 (103.05). Normally, when a level is touched, USD/JPY rebounds from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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USD/JPY Intraday Technical Levels for December 02, 2013





From the Asian session today, there is only one data release: Capital Spending q/y, and BOJ Gov Kuroda Speaks and for the US market session open there will be a several data released: US Fed Chairman Bernanke Speaks, Final Manufacturing PMI, Construction Spending m/m, ISM Manufacturing PMI. There is probability the USD/JPY will move in a slow volatility but in a moderate way during the US market session.


TODAY's TECHNICAL LEVEL:
Resistance. 3 : 102.85.
Resistance. 2 : 102.65.
Resistance. 1 : 102.45.
Support. 1 : 102.20.
Support. 2 : 102.00.
Support. 3 : 101.80.


DESCRIPTION :
Please, pay attention to the levels of support 3 (101.80) and resistance 3 (102.85). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

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USD/JPY: near strong resistance




The pair rallied towards north from 97 to 103.40. The Bank of Japan helped to push yen 6 month's low. Better than expected US economic data increased expectations of a near term tampering of the Fed's purchasing program.
The Japanese PM proceed with his April sales tax raise form 5% to 8% and a $51 billion stimulus plan. The BoJ would continue buying enough assets to pump up the monetary base at a rate of about $596-695 billion.
The Japanese stock market Nikkei push to a 6 month high going north very strongly, we expect Nikkei would climb 17k, 17,500 levels. Japan is going to invest $2tn of pension funds in stocks and other riskier assets. Japan's central bank maintained its target for asset purchases, as widely expected. We expect some liquidity landed in India and America probably next year. This is the time Western Gold Community will focus on Japan's liquidity to buy gold which is currently trading at uneconomic levels.
The pair halted at a major resistance level May's high 103.73. On the down side strong support exists at 101.5
Our long term target is 125.
Recommendation-
Buy above 102.7 the pair will jump to 103 103.5 103.7. Downside support at 102.2 102 101.5


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Elliott Wave analysis of EUR/NZD for December 5, 2013




Today's support and resistance levels: R3: 1.6681
R2: 1.6627
R1: 1.6592
Current spot: 1.6578
S1: 1.6535
S2: 1.6517
S3: 1.6443


Technical summary:
We have seen a clear impulsive five wave rally from the 1.6443 low to 1.6635 (a little below the ideal target of 1.6658). The correction from 1.6635 could be over with the test of 1.6527, but to confirm that, we need for minor support at 1.6535 to protect the downside for a break above 1.6591 and more importantly a break above 1.6635. As this is a minor green wave ii, which is currently developing, it can continue all the down to 1.6443, but that scenario is less likely.


Trading recommendation:
Stay long EUR and keep your stop at 1.6440. If you are not long EUR yet, then buy a break above 1.6591 with the same stop at 1.6440.

More analysis - at instaforex.com