Technical analysis of USD/JPY for January 27, 2017 888011000 110888 USD/JPY is expected to extend its benefit movement.The set is trading above its rising 20-period and 50-period moving averages, which play assistance roles and preserve the benefit bias. The relative strength index stands strongly above its neutrality level at 50 and lacks downward momentum. In addition, 114.55 is playing a crucial support role, which ought to restrict the downside capacity. As long as 114.55holds as support,look for an additional rise to 115.40 and even 115.80 in extension. Recommendation: The set is trading above its pivot point. It is likely to trade in a broader variety as long as it stays above its pivot point. Long positions are suggested with the very first target at 115.40 and the 2nd one at 115.80. In the option situation, brief positions are advised with the very first target at 114.00 if the cost moves below its pivot points. A break of this target is likely to press the pair more downwards, and one may expect the second target at 113.45. The pivot point is at 114.55. Resistance levels: 115.40, 115.80, 116.25 , Support levels: 114.00, 113.45, 113.00 The material has been offered by InstaForex Business-www.instaforex.com

By | January 27, 2017

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USD/JPY is expected to extend its upside movement.The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 114.55 is playing a key support role, which should limit the downside potential.

Hence, as long as 114.55 holds as support, look for a further rise towards 115.40 and even 115.80 in extension.

Recommendation:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 115.40 and the second one at 115.80. In the alternative scenario, short positions are recommended with the first target at 114.00 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 113.45. The pivot point is at 114.55.

Resistance levels: 115.40, 115.80, 116.25 , Support levels: 114.00, 113.45, 113.00

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of USD/CAD for January 27, 2017 888011000 110888 General summary for 27/01/2017:The market has actually bounced from the level of 1.3053 and now is trying to return to the golden channel. The primary obstacle to overcome is the overbalance at the level of 1.3141. Only if this level is clearly violated, the market can break out of the channel and head upward to the level of 1.3213. Without breaking above this level, the market might threaten to check the intraday support again and even move lower to the regional low at the level of 1.3017.Support/Resistance:1.3017 – Technical Assistance1.3053 – Intraday Assistance1.3137 – WS11.3141 – Overbalance Level1.3213 – Intraday Resistance1.3261 – Weekly Pivot1.3507 – WR1Trading recommendations:Day traders could contribute to their opened buy orders just if the level of 1.3131 is clearly violated (hourly candle light close above this level). SL ought to be positioned listed below the swing low at the level of 1.3016 and TP ought to be exposed for now. The material has actually been suppliedby InstaForex Business-www.instaforex.com

By | January 27, 2017

General overview for 27/01/2017:

The market has bounced from the level of 1.3053 and now is trying to get back to the golden channel. The main hurdle to overcome is the overbalance at the level of 1.3141. Only if this level is clearly violated, the market can break out of the channel and head upward towards the level of 1.3213. Without breaking above this level, the market might threaten to test the intraday support again and even move lower towards the local low at the level of 1.3017.

Support/Resistance:

1.3017 – Technical Support

1.3053 – Intraday Support

1.3137 – WS1

1.3141 – Overbalance Level

1.3213 – Intraday Resistance

1.3261 – Weekly Pivot

1.3507 – WR1

Trading recommendations:

Day traders could add to their opened buy orders only if the level of 1.3131 is clearly violated (hourly candle close above this level). SL should be placed below the swing low at the level of 1.3016 and TP should be left open for now.

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The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of EUR/JPY for January 27, 2017 888011000 110888 General introduction for 27/01/2017:The market has secured the top of the wave 1/a at the level of 122.94 simply as anticipated. If this is the wave 3 unfolding, then the next target forecast is at the level of 123.84. Nevertheless, please notification that any violation of the level of 121.95 will result in spontaneous count invalidation. The reason behind this scenario is more lengthy and intricate restorative sub-cycle in wave 2.Support/Resistance:123.74 – WR1122.94 – Intraday Resistance122.67 – Intraday Support122.14 – Weekly Pivot121.34 – WS1120.53 – Invalidation LevelTrading recommendations:Day traders need to consider opening buy orders just due to uncompleted wave progression to the benefit. The SL for all open orders must be put listed below the level of 120.53 and TP ought to be exposed in the meantime. The product has actually been suppliedby InstaForex Business- www.instaforex.com

By | January 27, 2017

General overview for 27/01/2017:

The market has taken out the top of the wave 1/a at the level of 122.94 just as anticipated. If this is the wave three unfolding, then the next target projection is at the level of 123.84. Nevertheless, please notice that any violation of the level of 121.95 will result in impulsive count invalidation. The reason behind this scenario is more complex and time-consuming corrective sub-cycle in wave 2.

Support/Resistance:

123.74 – WR1

122.94 – Intraday Resistance

122.67 – Intraday Support

122.14 – Weekly Pivot

121.34 – WS1

120.53 – Invalidation Level

Trading recommendations:

Day traders should consider opening buy orders only due to uncompleted wave progression to the upside. The SL for all open orders should be placed below the level of 120.53 and TP should be left open for now.

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The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of USDX for January 27, 2017 888011000 110888 The Dollar index is finally bouncing as we expected from the start of the week. Trend nevertheless stays bearish. Cost has to break above 101.50 to verify trend change. I think we are going to see the coming weeks a bullish move towards 102 at least. Blue lines-bearish channel Black lines-bullish divergence The bullish divergence signal I offered the other day is working perfectly as cost has bounced to 101 as we expected. Rate is listed below the Ichimoku cloud. We might see a small rejection here and a pullbackhowever I think we will not see a lower low. I believe we will see a higher low and after that resumption of the up pattern. Red lines -bearish channel The lower cloud border on the day-to-day chart has actually provided strong assistance for the Dollar index. Price is bouncing and challenging the bearish channel. A relocation towards the top cloud limit should be anticipated. Stochastic oscillator is oversold and turning upwards. Dollar strength is anticipated to be seen over the coming sessions and specifically next week.The product has actually been offered by InstaForex Company- www.instaforex.com

By | January 27, 2017

The Dollar index is finally bouncing as we expected from the start of the week. Trend however remains bearish. Price needs to break above 101.50 to confirm trend change. However I believe we are going to see the coming weeks a bullish move towards 102 at least.

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Blue lines – bearish channel

Black lines – bullish divergence

The bullish divergence signal I gave yesterday is working nicely as price has bounced towards 101 as we expected. Price is below the Ichimoku cloud. We could see a small rejection here and a pullback but I believe we will not see a lower low. I believe we will see a higher low and then resumption of the up trend.

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Red lines – bearish channel

The lower cloud boundary on the daily chart has provided strong support for the Dollar index. Price is bouncing and challenging the bearish channel. A move towards the top cloud boundary should be expected. Stochastic oscillator is oversold and turning upwards. Dollar strength is expected to be seen over the coming sessions and specially next week.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Technical analysis of gold for January 27, 2017 888011000 110888 Gold has reached our first target of $1,180 where the 38% Fibonacci retracement is discovered. Gold might recuperate to $1,200 but overall I anticipate Gold cost to continue lower to $1,160. Gold is now in a corrective phase relative to the rise from $1,122 to $1,220. Gold is trading listed below the 4-hour Ichimoku cloud changing short-term pattern to bearish again as we expected. Thefirst target is achieved. A bounce is justified from present levels. A backtest of the broken cloud at$1,200 is possible.Any bounce ought to be sold as I anticipate another rejection and a push lower towards$1,160. Only a break above$ 1,220 might change my plans. Gold rate as anticipated is showing strong rejection signs. The weekly candle light depicts the rejection strongly. Inning accordance with our previous analysis. Gold remains in a corrective phase . Gold should resume the uptrend in a week or more. First we need to see $1,160. Short-term resistance at$1,190. Support at$1,180 and next at $1,170. The product has been supplied by InstaForex Business-www.instaforex.com

By | January 27, 2017

Gold has reached our first target of $1,180 where the 38% Fibonacci retracement is found. Gold could bounce back towards $1,200 but overall I expect Gold price to continue lower towards $1,160. Gold is now in a corrective phase relative to the rise from $1,122 to $1,220.

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Gold is trading below the 4-hour Ichimoku cloud changing short-term trend to bearish again as we expected. Thefirst target is achieved. A bounce is justified from current levels. A backtest of the broken cloud at $1,200 is possible. However any bounce should be sold as I expect another rejection and a push lower towards $1,160. Only a break above $1,220 could change my plans.

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Gold price as expected is showing strong rejection signs. The weekly candle depicts the rejection vividly. According to our previous analysis. Gold is in a corrective phase. Gold should resume the uptrend in a week or two. First we need to see $1,160. Short-term resistance at $1,190. Support at $1,180 and next at $1,170.The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Germany's Import Prices Fall Most Since 2009

By | January 27, 2017

Germany’s import prices declined at the fastest pace since 2009, figures from Destatis showed Friday.

Import prices decreased 3.1 percent on an average in 2016 versus a 2.6 percent drop in 2015. This was the biggest drop since 2009, when prices slid 8.5 percent.

In December, import prices climbed by more-than-expected 3.5 percent from prior year, the fastest since February 2012.

Prices had climbed 0.3 percent in November and dropped 0.6 percent in October. Economists had forecast a 2.7 percent rise for December.

On a monthly basis, import prices advanced 1.9 percent in December, faster than the expected 1.3 percent.

Excluding crude oil and mineral oil products, import prices decreased 1.9 percent in 2016 from the same period of prior year. In December, prices moved up 1.7 percent.

Further, data showed that in 2016, export prices dropped 0.9 percent, the fastest decline since 2009. In December, export prices increased 1.1 percent after rising 0.3 percent in November.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Japan Inflation Climbs up 0.3% On Year In December

By | January 26, 2017

Customer rates in Japan were up 0.3 percent on year in December, the Ministry of Internal Affairs and Communications stated on Friday.

That topped expectations for 0.2 percent however was below 0.5 percent in November.

Core consumer rates, which exclude food, sank an annual 0.2 percent. That also beat projections for a decrease of 0.3 percent following the 0.4 percent contraction a month previously.

General inflation for the Tokyo area, considered a leading indication for the nationwide trend, included 0.1 percent on year in January versus expectations for a flat reading – which would have been unchanged.

Core CPI in Tokyo was down 0.3 percent versus forecasts for -0.4 percent and up from -0.6 percent in December.

The product has been offered by InstaForex Company – www.instaforex.com

Jonathon Alexander