Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 12nd,2015

Analysts predict that Fed may postpone its interest rate hike until next year in March. Macro economy investigator Ma Yao from CI Consulting suggested that the world is experiencing an economy downturn. As a result, many countries are depreciating their currencies. Under this condition, the US dollar has already depreciated. If they do hike the interest rate, it may strand its export as well as the real economy. However, the US is now in a barely low inflation rate with steady price. With that being the case, it’s not that urgent for the US to hike its interest rate.

EUR/USD
As the EUR/USD has been trading in a pretty good bullish momentum, we are generally buyers of call options. Key pressure level 1.1376 can be the key position to judge the direction, if broken through for twice, call options can be purchased. Otherwise we prefer buying put options.
Support：1.1339/1.1307/1.1256
Resistance：1.1376/1.1396/1.1458


GBP/USD
Since the GBP/USD has shown a slight bullish sentiment in the 1-hour chart, we are cautious of buying put options from morning to afternoon session. We have no interest buying call options until it breaks through 1.5340.
Support：1.5304/1.5276/1.5254
Resistance：1.5332/1.5371/1.5422


USD/JPY
The price movement of the USD/JPY is quite abnormal as it has been in the box range for over a month since the previous big slump. We still believe it will continue to fluctuate during the session today. Put options can be purchased during the morning session. While we have to wait and see whether to buy call or put from afternoon session to evening session.
Support：119.80/119.73/119.40
Resistance：120.32/120.45/120.81


[Tips]
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