Natural gas price postpones the decline – Analysis – 25-1-2024

The EURJPY pair touched the first correctional target by reaching 160.00, to form solid obstacle against the negative trades and form quick rebound towards 160.65, while the continuous stability below 161.75 resistance and forming additional barrier at 161.10 allow us to wait to gather the additional negative momentum to manage to renew the negative attempts that might target 159.60.

The GBPJPY pair has no escape from resuming the negative attempts by providing new closings below the main resistance 189.50, in addition to stochastic continuous negative momentum by approaching 50 level, thus, we will keep waiting to confirm breaking the initial support 187.30 and open the way resume the negative attack, reminding you that the initial targets located at 186.55 followed by reaching 185.15 to press on 38.2% Fibonacci correction level that appears on the chart.

Platinum price failed to record any new positive target to continue fluctuating near 905.00, affected by the contradiction between the major indicators against the frequent stability above 880.00 that forms major support to reinforce the chances of regaining the bullish bias.