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Tuesday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY

ByFX77
Published 03/22/2016, 02:32 AM
Updated 03/09/2019, 08:30 AM
EUR/USD
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GBP/USD
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USD/JPY
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Atlanta Fed President Denis Lockhart said yesterday “there is sufficient momentum evidenced by the economic data to justify a further step at one of the coming meetings, possibly as early as the meeting scheduled for end of April,” Richmond Fed President Jeffrey Lacker said U.S. inflation was bound to increase significantly after the price of oil bottoms out. The remarks of many Feb officials indicate the consensus within Fed that despite the weak global economy, the American economy is growing unaffectedly. It is actually likely that Fed will raise interest rates more quickly especially according to Lacker’s opinion “U.S. inflation was bound to increase significantly after the price of oil bottoms out.”
EUR/USD

Seen from the daily trend, it is still in a bullish trend so far overall. According to the Chart H1, as the correction has not finished yet, put options can be purchased first before it reaches the 1.1200 supportive level. Call options can be purchased when it breaks above 1.1280.
Support: 1.1200/1.1150 Resistance: 1.1280/1.1320
GBP/USD

Seen from the Chart H4, it is in a correction now and a further rise may continue after enough correction. Put options can be purchased first in the morning session and stop at 1.4300 supportive level.
Support: 1.4350/1.4300 Resistance: 1.4430/1.4500
USD/JPY

As it continues to rally so far, we are mainly call option buyers during the daytime session before it gets near 112.50 resistance level.
Support: 111.50/111.27 Resistance: 112.36/112.50
[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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