The USDJPY faces negative pressure – Analysis - 20-01-2021
The USDJPY pair could not manage to hold for long time above the resistance line that appears on the chart, to trade negatively and approach the key support 103.65, which brings us back to the neutrality until the price confirms breaking the mentioned support or breaching 104.10 resistance to detect its next trend clearly.
Note that breaking the mentioned support will press on the price to resume the main bearish trend that its next target located at 102.50, while breaching the resistance represents the key to start recovery attempts that target 105.20 areas initially.
The expected trading range for today is between 103.00 support and 104.50 resistance
The expected trend for today: Neutral
The GBPUSD breaches the minor resistance - Analysis - 20-01-2021
The GBPUSD pair managed to breach 1.3615 level and hold above it, to open the way to achieve our positive targets that start at 1.3700 and extend to 1.3815, noting that moving above the EMA50 supports the positive overview.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the rise, while the expected rise will remain valid unless breaking 1.3615 and hold below it.
The expected trading range for today is between 1.3580 support and 1.3750 resistance.
The expected trend for today: Bullish
The EURUSD surpasses the first target – Analysis - 20-01-2021
The EURUSD pair confirmed breaching 1.2125 level, starting today with new bullish bias to head towards our second waited target at 1.2175, and we suggest surpassing this level and open the way to regain the main bullish trend after the temporary bearish correction that it witnessed in the previous sessions.
Therefore, the bullish trend scenario will remain valid and suggested for the upcoming period unless breaking 1.2064 and holding below it.
The expected trading range for today is between 1.2064 support and 1.2230 resistance.
The expected trend for today: Bullish
Update: Crude oil breaches the resistance
Crude oil price breached 52.30 level and closed the last four hours’ candlesticks above it, to reinforce the chances of turning back to the main bullish track and stop the correctional bearish trend, on its way to test 53.90 level initially, noting that closing today above 52.30 will confirm heading to achieve more gains in the upcoming sessions.