CHFJPY Price Analysis

Expected Scenario

• The CHFJPY price ended its recently bullish rally by facing solid resistance at 176.95, forming correctional bearish waves and settling near 176.55.
• Despite the stability within the bullish channel, continuous negative closings below the mentioned resistance and stochastic attempts to exit the overbought areas confirm surrendering to the domination of the correctional bearish bias. This suggests a potential move towards 176.20 and 175.80 before any new attempt to record new positive targets.

Expected Trading Range

Between 176.80 and 176.20.

Natural Gas Price Analysis

Expected Scenario

• Natural gas price started today by forming a bearish gap, settling below the 2.860$ support line as seen on the chart, expecting to hold below the broken support to initiate negative waves and potentially move towards 2.740$ and 2.550$.
• On the other hand, regaining the bullish bias would require a strong bullish rally to settle above the 2.950$ level, followed by targeting positive stations near 3.200$ and 3.500$.

Expected Trading Range

Between 2.880$ and 2.740$.

EURJPY Pair Price Analysis

Expected Scenario

• The EURJPY pair continued to form correctional bearish waves on last Friday, due to facing new negative pressures, to crawl below the additional support 168.90 and notice approaching the main bullish channel’s support line at 167.35.
• Holding above the major support reinforces the chances of forming new bullish waves soon, waiting to surpass 168.90 again followed by starting to target some positive stations that start at 169.45 and 170.10, while breaking the bullish channel’s support line and holding below it will confirm moving to the negative track, to suffer big losses by moving towards 166.90 and 166.40 levels.

Expected Trading Range

Between 167.60 and 168.90.

GBPJPY Pair Price Analysis

Expected Scenario

• The GBPJPY pair confirmed its affection by the domination of the correctional bearish bias by settling below 201.40 barrier recently, to notice targeting many correctional stations recently by reaching 199.68, followed by bouncing upwards temporarily in order to gather the additional negative momentum again.
• Now, 200.10 level attempts to form the additional barrier and stochastic attempts to crawl below the 50 level support the bearish overview, waiting to target new negative stations that might extend towards 198.55, while breaking this obstacle will push the price to 197.75 as the next main target for the near-term and medium-term trades.

Expected Trading Range

Between 199.80 and 198.55.