The EURJPY repeats the pressure on the support – Analysis – 13-8-2019
The EURJPY pair decline yesterday to repeat the pressure on the bearish channel’s support line at 117.50, providing positive close above it as appears on the chart, while resuming the negative attack requires breaking the current support to open the way to record the additional targets represented by 116.70 followed by 114.85 levels.
On the other hand, failing to achieve the break will increase the chances of forming correctional bullish trades to force the price to rally bullishly towards 119.25 before achieving any new negative target, therefore, we recommend staying neutral and wait the next close to manage to detect the next main targets.
The expected trading range for today is between 117.50 and 119.00
The expected trend for today: Neutral
Copper price without any change – Analysis – 13-8-2019
No change for Copper price that remains stable below 2.6200 resistance, to decrease the chances of the return to the bullish channel, while the contradiction of the major indicators forms the main reason to postpone the negative attack, to keep waiting to gather new negative momentum followed by waiting to reach 2.550 and 2.4660 levels.
The expected trading range for today is between 2.6200 and 2.5500
The expected trend for today: Bearish
Platinum hovers around the resistance – Analysis – 13-8-2019
Platinum price still affected by the sideways range due to the lack of the negative momentum, to repeat the fluctuation around the main resistance 870.00, while the bearish scenario will remain valid unless breaking this barrier to target 840.00 followed by 790.00 in the near term and medium term period.
We remind you that attempting to rally above the current resistance will cancel the negative overview by settling within new bullish track and increase the chances of rallying towards 915.00 and 1000.00 levels in the upcoming period.
The expected trading range for today is between 870.00 and 840.00
The expected trend for today: Bearish
The GBPJPY seeks an exit – Analysis – 13-8-2019
The GBPJPY pair still fluctuating within sideways track near 126.50 support line, attempting to find a path to resume the main bearish attack, noting that failing to achieve the required break might force the price to form strong positive rebound to cause unexpected losses, thus, we recommend monitoring the price behavior and wait to achieve the required break to confirm the preparation to record the additional targets at 124.85 followed by 123.25.
The expected trading range for today is between 128.10 and 125.60
The expected trend for today: Neutral