USDJPY Forecast for the week 27th Jan, 2014

USDJPY Forecast for the week 27th Jan, 2014

Daily Chart

Last week my view was bullish due to the bullish engulfing candle formed, However we are clearly in a short term bearish run / correction.

• Ascending trend line is near
• On yen pairs, using ichikumo indicator is ideal, and if you put it on the daily chart, we are hitting the clouds / supports/ and the 101.300 approx is in the clouds
• On the chart, there are two support levels to look for trades

4 Hourly Chart

Hourly Chart

• After breaking support, We would be looking to sell on the retest which now is resistance.
• The next level of support is drawn on the hourly where a possible bounce scalp is possible / also shown on 4hr chart

Outlook Trade opportunity

There are three possible trades
2 are shown on 4hr chart
2 are shown on 1hr chart, however one of the trades are a repeat of the 4hr chart

Risk Level - Medium

Tips -

Always take note of any economical news event on our provided calender below

EURUSD outlook for the week of 27th Jan, 2013

EURUSD outlook for the week of 27th Jan, 2013

Daily Chart

The euro has bounced of the 61.8 retrace level and ascending trend line (from June 2013), which was supported by divergence and also economical news which give its push.  We are trading into resistance now, so we have to watch closely at price action / daily candles.  

• There is divergence (unfortunately not drawn on chart sorry), where we have higher high, but lower highs in stochastic.
• Trading into resistance, with Friday's Candle seems to have a exhaustion pin bar.

Summary - This would be hard to analyse as we are trading up into resistance, however for aggressive traders we could go short and have stops above the highs from Friday.  

4 Hourly Chart

• The Stochastic seems to me that it wants to push price up,
• On chart are two counter trade setups if we break resistance

Hourly Chart

• I have not shown the stochastic indicator window, however i could tell you it is pushing up which makes this pair breaking resistance more of a possibility
• On the chart, there are two possibility, One is a trend continuation, and second is a counter trend

Outlook Trade opportunity

We have 4 x setups as shown on the Hourly and 4 hourly charts.

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below