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Monday's Technical Analysis on EUR/USD, GBP/USD, USD/JPY

ByFX77
Published 01/25/2016, 04:03 AM
Updated 03/09/2019, 08:30 AM

This week’s focus lies on Fed’s interest rate decision released on Jan 28th. It is all believed that Fed won’t make any changes on this meeting, as a new report by Rabobank analysts revealed that an interest rate hike would not happen before the policy-making meeting in June.

EUR/USD
As the EUR/USD rebounds slightly during the morning session, we prefer buying call options. As the bullish momentum dominates the overall trend, call options should be suspended in the afternoon to seek opportunities to buy put options.
Support：1.0780/1.0730 Resistance：1.0816/1.0836


GBP/USD
Seen from the 1-hour chart, the GBP/USD was traded at bearish correction. Call options can be purchased with caution during the morning session, while put options should be purchased in the afternoon.
Support：1.4240/1.4220 Resistance：1.4328/1.4360


USD/JPY
Seen from the 4-hour chart, the USD/JPY pair tend to bend down as a result of long-term average line. But with MACD running above the 0 axis, the bullish sentiment still exits. Put options can be purchased during the morning session and it can be converted into call options as opportunity occurs.
Support：118.20/118.00 Resistance：118.84/119.10


[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.

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