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

ByFX77
Published 02/03/2016, 05:18 AM
Updated 03/09/2019, 08:30 AM

Bank of Japan adopted the negative interest rate policy, following Risksbank and European Central Bank. Some analysts believe that the Fed may also follow the step. Meanwhile, Fed chairman Yellen also suggested that negative interest rate policy was in their schedule. Bank of America Merrill Lynch (N:BAC) predicted that EUR/USD would drop below 1.0000, as European Central Bank extended the quantitative easing policy, which should push the Euro lower.

EUR/USD
Seen from the 1-hour chart, the EUR/USD is traded in steady bullish momentum. But without sufficient bullish sentiment during the morning session, we are cautious of buying call option during the daytime session.
Support：1.0900/1.0875 Resistance：1.0928/1.0962


GBP/USD
Seen from the 1-hour chart, the GBP/USD has a correction request during the morning session. But there is a bullish sentiment in the 4-hour chart, we need to take opportunity to buy call options.
Support：1.4365/1.4333 Resistance：1.4415/1.4500


USD/JPY
Seen from the 1-hour chart, the USD/JPY continues to drop down, we are mainly buyers of put options during the daytime session.
Support：119.30/118.83 Resistance：120.00/120.50


[Tips]
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