USD/JPY- In a Support zone; the pair could bounce!

Strategy in Play:  

The USD/JPY is bouncing back up from its support zone on a 30 minute time frame. This support zone was given in our analysis on the 21st of October. The volatility for the pair is high, as the price has pierced the Bollinger band at the support zone. The piercing of the Bollinger band does have a significant importance when this takes place at a resistance/support zone, because this has an ability to stop the upward/downward move or reverse the trend.

GBP/USD- Fell from its Resistance as Predicted- What Now?

Strategy in Play:

The GBP/USD fell from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis on the 21st of October. The price is trading well above the 50 day (shown in green) and the 100 day (shown in yellow) moving average which confirms that the bears have strong control. The pair has also broken the upward trend line which further confirms the above argument.

US Futures and European Markets are trading lower; BOE minutes and Euro’s strength in focus

 

Asian markets closed lower on Wednesday by erasing their gains which were made yesterday . Although there was a positive start for the equity market during the Asian trading session on the back of optimism that Fed will keep their asset purchase program little bit longer, perhaps till the end of the first quarter next year. But, the momentum changed its direction on the back of the chatter that the Chinese banks have almost tripled their bad debt write off during the first half of this year. This triggered the profit taking signal amid investors.

US futures are also trading lower during the early morning, as the bad news is a good news effect is fading away. The major point which could be taken away from yesterday’s report was that the