The EURJPY needs new negative momentum – Analysis – 8-12-2022
The EURJPY pair touched 143.15 level yesterday, followed by starting to form positive waves due to the lack of the negative momentum, to move towards the additional barrier 143.85, while the contradiction between the major indicators’ positivity against the main stability within the minor bearish channel might force the price to provide sideways trades until gathering the negative momentum, to ease the mission of reaching the negative stations at 142.70 and 142.10.
On the other hand, regaining the bullish bias requires breaching the bearish channel’s resistance at 145.00 to open the way to target many positive stations in the upcoming period by reaching 145.65.
The expected trading range for today is between 144.10 and 142.70
The expected trend for today: Bearish
The GBPJPY gathers its strengths – Analysis – 8-12-2022
The GBPJPY pair resisted the negative pressures recently to notice the attempt to surpass 166.80 barrier, in order to confirm regaining the bullish bias and recording 167.40 level, while stochastic positive momentum allows us to expect resuming the bullish attempts to target many positive levels that start at 168.00 and 169.10.
On the other hand, turning back to settle below the mentioned barrier will force the price to form mixed sideways waves with chances of suffering some losses by crawling towards 165.40 followed by reaching the moving average 55 at 164.50.
The expected trading range for today is between 166.00 and 168.00
The expected trend for today: Bullish
Platinum price keeps the positivity – Analysis – 8-12-2022
Despite facing frequent negative pressures recently, platinum price positive stability above 965.00 support and rallying towards 1015.00 confirm keeping the bullish bias domination, assuring the importance of gathering the positive momentum to assist to resume the rise and repeat the pressure on 1040.00 obstacle, while surpassing it might extend trades towards 1070.00 direct, to form the second target for the bullish bias.
The expected trading range for today is between 985.00 and 1040.00
The expected trend for today: Bullish
Copper price presses on the barrier – Analysis – 8-12-2022
Copper price formed new positive wave to press on 3.8500 barrier in order to find a way to resume the waited bullish attack, reminding you that the additional positive targets are located near 4.0500 and 4.1800.
On the other hand, failing to breach will force the price to renew the sideways trades to repeat the fluctuation between the current barrier and 3.7000 support.
The expected trading range for today is between 3.7500 and 4.0500
The expected trend for today: Bullish