Recommended trades for today for EUR/USD and USD/JPY

[alroughani]

Update on USD/JPY

Yesterday the market saw a big down move of the USD against JPY because the issue of the strong indicators by the Japan Bank, it has broken all support levels begining from 117.80, 117.30 and finally the most important critical level of 116.80

The uptrend is on hold now as it stands at the Fib ret 50 of the rise from 114.00 to 119.30

The nest support level will be 116.00 (FIb ret 61.8) and if broken the trend will be down to a minimum 114.00

If the pair hold and break the next resistance level of 117.30 then it will go strongly to resume the uptrend but it has to be done sooner than later and if not done by Friday at the end of US session, then i wiould expect the downtrend to start next week

You can view what i have indicated in the 4-hourly chart showing the resistance level of 117.30 (Fib ret 38.2) and the support at 116.00 (Fibret 61.8)

Good Luck

 

[alroughani]

Usd/jpy

No change in my view, the USD/JPY pair is still in downtrend behaviour and consolidating between 115.60-116.50
The next moderate resistance stands at previous support at 116.75-80
Next major resistance is at 117.30 as we indicated in the previous chart and this need to be broken in order to place the downtrend on Hold

On the downside, next support stands at 115.65 and next at 114.90 before the 100% Fib retracement at 114.10 which January low

I would recommend selling at 116.70 if seen and 117.30 when not broken for a target of 116.10 and 115.70 on the distant chart

Good luck

 

[alroughani]

Eur/usd

The Pair is trapped between 1.1820 and 1.1880 and still the direction of trend in not straight forward but overall bearish targetting 1.1775. However, the momentum of the downtrend is fading and sooner or later the bullish trend will start but i would not be 100% sure till the major resistance at 1.2025 is broken

For intra-day trader, the next support level is at 1.1800 and then 1.1770
but if this is broken then a very bearish trend will start to target at least 1.1640 which is November 2005 low

On the upside, the pair will face moderate resistance at 1.1880 and a major resistance between 1.1925 and if broken then to test the next the Feburary 20th High at 1.1975

You need to watch the market carefully for a break either way below 1.1800
or above 1.1925

Good luck

 

[alroughani]

Euro – 1.1860
Initial support at 1.1848 (Feb 16 low) followed by 1.1800 (76.4% retracement of the 1.1638 to 1.2324 advance).

Initial resistance is now located at 1.1935 (Feb 24 high) followed by 1.1976 (Feb 20 high).

Yen – 116.20
Initial support is located at 115.70 (61.8%% retracement of the 113.41 to 119.41 advance) followed by 114.14 (Jan 23 low).

Initial resistance is now at 117.17 (Feb 24 high) followed by 118.54(Feb 23 high).

 

[alroughani]

Usd/jpy

The pair is still trading sideways with a down trend bias.

Initial resistance stands at 116.25 before going to the next moderate resistance at 116.70-75

Only above 117.30, you could see the resumption of the upward trend in my opinion.

The supports levels are now starting at 115.55 and next at 115.10 and major support relies at 114.75 and if this is broken then you are
looking for a 70 pips down to 114.05

I would recommend buying at the resistance levels if not broken and i would assume that 116.70 should hold for today

Also, a reasonable buying around 114.80 as still should hold any downtrend for now to overcome the oversold position

Good luck...This is still a personal view

 

[bo musaed]

اشرايك مو فرصه للشراء

 

[bo musaed]

و الان تتكرر الفرصه

 

[alroughani]

Hala wala Bu Mosa3ed...

Good to hear from you..at least we have some good discussion

I agee that it is a good chance to buy but only and stress only if it broke the 116.35 resistance
it has already rejected twice and if rejected for the third time then, it will send the trend down to 114.80 level

I am watching the market carefully at this critical level and i think 117.30
is another critical level to resume the uptrend view

At this time, i am still in favour with the bearish trend below if stayed below 116.30 going to the weekend

 

[alroughani]

If you look at the daily chart you can see that 116.30 stands at the FIb ret 61.8 for the rise from 113.00 to 121.30
and if this is broken then the next critical Fib Ret 50% stands at 117.30

 

[Storm X]

فرصة حلوة كوب وعروة
وشراء سريع

 

[alroughani]

Usd/jpy

Today's Trade Analysis: : Yen’s more complex move should find ST support around 115.65 & retrace toward @ least 116.55/70, before continue its downmove

Supports: 115.65/115.35/115.00

Resistances: 116.35/116.70 /117.05

Plan: Sell 116.70, stop above 117.20, for downmove continuation toward 115.20/05

 

[alroughani]

Eur/usd

Euro move up strongly. Now should find ST resistance around 1.2040/65 & make a retracement toward 1.1975/50, before continue ST rising

Supports:1.2015/1.1980/1.1955

Resistances:1.2065/1.2100/1.2135

Plan: Profit 1.2035 entry & buy @ 1.1990, stop below 1.1940, for rise toward 1.2065/80

 

[alroughani]

update on USD/JPY

Finally the pair broke the 116.70-75 resistance which is the 38.2 Fibo Ret 115.50 to 118.90 and now facing facing at the critical point of50% fibo ret at 117.20

For today i would suggest selling at around 117.20-30 and buying at 116.40
and possibly from 116.10 if seen although i think this un expected today