The EURJPY hits solid barrier – Analysis – 22-7-2022
The EURJPY pair hit the positive target at 142.20 yesterday, to form solid barrier against the bullish attempts and force the price to rebound quickly towards 139.50, to threat the positive stability for the current trades.
In case the price continued to fluctuate below 140.20 and stochastic provided the negative momentum, we expect to renew the correctional negative attempts in order to reach 138.50 and 136.80 levels.
The expected trading range for today is between 140.20 and 138.50
The expected trend for today: Bearish temporarily
The GBPJPY fails to breach – Analysis – 22-7-2022
The GBPJPY pair failed to breach the additional barrier at 166.00 to force it to suffer clear losses by declining below 23.6% Fibonacci correction level, touching 164.00 level.
The continuous stability of the mentioned barrier and stochastic attempt to crawl below 50 level will increase the chances of renewing the negative attempts, which increases the chances of suffering additional losses that might extend towards 163.30 that forms additional support against the current negative attempts.
The expected trading range for today is between 165.00 and 163.30
The expected trend for today: Bearish temporarily
Platinum price renews the positive action – Analysis – 22-7-2022
Platinum price returned to fluctuate above 850.00 level, to hint its affection by the domination of the correctional bullish bias to notice forming bullish wave and settle near 880.00, and despite the continuous contradiction between the major indicators, that won’t hinder the chances of achieving some positive targets in the near term period, to keep waiting to reach 900.00 and 925.00 levels.
We remind you that facing strong negative pressures and crawling below 830.00 support line will force the price to form strong negative attack, to suffer more losses by moving towards 780.00 initially, followed by reaching 740.00 support line.
The expected trading range for today is between 850.00 and 900.00
The expected trend for today: Bullish
Copper price repeats the positive closings – Analysis – 22-7-2022
Copper price repeated the positive closings above 3.1300 level, to keep the correctional bullish track for now, noting that stochastic fluctuation near 80 will increase the chances of achieving the positive targets near 3.5000 followed by 3.6300 after breaching the previous level.
The expected trading range for today is between 3.2000 and 3.5000
The expected trend for today: Bullish