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

About the Feb’s Interest Rate Decision, Feb has leaved the rate unchanged as expected. And according to the statements released after the monetary policy meeting, the American economy is in a relatively positive development. The inflation in the reccent few months keeps increasing though it is still under the committee’s 2%. Therefore, in principle, it could not have led to the big fall for Dollar Indice. The reason for the fall is that according to the “Dot Chart”,the expectation of four more interest-rate hikes by Feb lifts off to only two more interest-rate hikes at the end of the year.
As to today’s Interest Rate Decisions of Swiss National Bank (SNB) and the Bank of England (BoE),the market expects that the two banks will keep the rate unchanged. As there is still down room for UK rates, the downlift is still possible under the weak global economy. But considering that UK needs to keep GBP strong for its referendum on the withdrawal from UN, it will choose to leave the rate unchanged till the end of the referendum. It is at that time that a further move can be taken according to the real situations.
EUR/USD


Seen from markets of different periods, an obvious bullish trend remains and the momentum keeps strong as well so we are mainly call option buyers during the daytime session on the whole. As a correction is necessary at a high level in the morning session, put options can be purchased with caution first. (HKT)
Support: 1.1150/1.1100 Resistance: 1.1250/1.1400
GBP/USD


Seen from Chart H4 above, GBP/USD begins to rally after the consolidation but it has not formed a certain bullish trend yet so far. The long-term MA(blue) remains sloping down and MACD doesn’t form a bullish trend, either. According to the market in the morning session, it may be in a correction trend, so we are mainly put options during the daytime session. (HKT)
Support: 1.4200/1.4150 Resistance: 1.4290/1.4350
USD/JPY


Seen from the Chart H4 above, it is still in a consolidation at the bottom area. According to the market in the morning session, as the momentum for a further rise exists, call options can be purchased first. However, we can not be too optimistic about the strength and about the new high. Therefore, put options can be purchased in the afternoon session. (HKT)
Support: 112.00/111.12 Resistance: 113.20/113.40
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