Important JPY Pairs' Technical Overview: 28.11.2018

Important JPY Pairs’ Technical Overview: 28.11.2018


Following its pullback from 112.30, the USDJPY is again preparing to conquer 114.05-10 horizontal-resistance; however, a closing break above the same is required for the pair to aim for 114.55 & 114.75 numbers to north. In case prices manage to provide a D1 close beyond 114.75, the 61.8% FE level of 115.35 and the 115.50 could entertain buyers prior to pleasing them with 116.00 round-figure. On the downside, 112.90 & 112.50 may limit the pair’s near-term declines before highlighting the 112.30, the 100-day SMA level of 112.15 and an upward slanting trend-line, at 112.00, as supports. Assuming the pair’s dip beneath 112.00, the 111.30 & 110.70 might offer intermediate halts during its plunge to 110.35, comprising 200-day SMA.


EURJPY is also struggling with immediate resistance-line and can drop to 127.75 but an ascending TL, at 127.25, could challenge sellers then after. Given the pair’s refrain to respect 127.25, the 126.65-60 support-zone may gain market attention as break of which might not hesitate fetching the quote to the 126.00, the 124.95 and the 124.60 consecutive rest-points. Should the pair surpasses 128.75 adjacent barrier, it can quickly rise to 129.10 & 200-day SMA level of 129.85. Moreover, pair’s successful north-run above 129.85 could take a break near 130.00 ahead of targeting 130.55 & 131.40 resistances.


With three week long descending trend-line still being unbroken, chances of the AUDJPY’s dip to 81.85 and then to 81.65 support-line can’t be denied. If at all the pair keep trading southwards past-81.65, the 81.20, the 81.00 and the 80.40-35 may question the Bears whereas break of 80.35 could flash 80.00 & 79.75 on the their radars. Meanwhile, an upside clearance of 82.55 resistance-line can escalate the pair’s recovery to 82.80 & 83.05. Though, pair’s advances beyond 83.05 may push Bulls to opt for 61.8% FE level of 83.65 as landmarks.


Even after crossing 50-day SMA, the CHFJPY is yet to break the 113.90-95 resistance-region in order to claim the 114.20 & the 114.70 levels. In case the pair maintains strength above 114.70, the 115.05-10 can try confining its rally, if not then 115.60 & 116.00 may mark their presence on the chart. Alternatively, 113.40 & 113.00 seem immediate supports for the pair, breaking which 112.50 and an ascending support-line, at 111.90, should be observed closely. Given the pair’s sustained downturn below 111.90, the 111.50 & 110.90 may become pessimists’ favorites.