The USD/JPY went upwards last
week, following a bearish run that made it go below the demand level at 116.00.
The price was unable to stay below the demand level at 116.00 – as it rose
steeply above the demand level at 119.00. This market could continue its
upwards movement and as a result of that, price could reach another supply
level at 120.50.
EUR/USD: This is a bear market and the bearish movement is supposed
to continue this week. From the resistance line at 1.2550, the price dropped by
more than 300 pips, closing below the resistance line at 1.2250. The next
target to be reached by the price is the support line at 1.2200.
USD/CHF: This is a bull market and the bullish movement is supposed
to continue this week. From the support level at 0.9550, the price rose by more
than 280 pips, moving close to the resistance line at 0.9850. That resistance
level could be breached to the upside, and the next target to be reached by the
price is resistance level at 0.9900.
GBP/USD: This is a very volatile market. The volatility is caused
by a struggle between the bull and the bear, though the bears have upper hands.
With further strength in the Greenback, the price could challenge the
accumulation territory at 1.5550.
USD/JPY: The USD/JPY went upwards last week, following a bearish
run that made it go below the demand level at 116.00. The price was unable to
stay below the demand level at 116.00 – as it rose steeply above the demand
level at 119.00. This market could continue its upwards movement and as a
result of that, price could reach another supply level at 120.50.
EUR/JPY: This currency
trading instrument closed at 146.16 on Friday, December 19, 2014, on a bearish
note. The price ought to be bullish like some other JPY pairs, but the weakness
in the EUR is too much to allow that. Only a movement above the supply zone at
147.50 could mean the end of the bearish outlook.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Learn
from the Generals of the Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314
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