USD/JPY Technical Analysis for Today Morning 
 

12.01.2017



USD/JPY is trading at 114.638, 0.84% down since Wednesday. The YEN strengthened against the US Dollar Index post release of Donald Trump’s first Press Conference since November 8 which failed to specify more details about the fiscal policies & tax cuts. Also, Trump criticized the pharmaceutical industry which subdued the Japanese stocks & hence, the news turned highly positive for YEN.

In early trade on Thursday, the Japan revealed Bank Lending data which rose to 2.6% higher than the expectation of 2.4% & Current Account surplus climbed to 1.80T from the forecasted figure of 1.48T. As seen in the chart, the pair is trading at Fibo level of 23.6 indicating the chances of breakdown if breached.

Resistance – 116.783-118.116 Pivot – 115.494

Support – 114.121-112.892 Expected Trend - Bearish

 

 

DE30 Technical Analysis for Today Morning
 

12.01.2017

DE30 traded at 11651, 0.44% up since previous day close. The European indices sharply moved upside following the momentum in U.S markets post release of Donald Trump’s first formal Press Conference since November 8. Despite a lack of details on fiscal policies, the other administrative actions like the broader tax on U.S companies for shifting business to the foreign countries,

condemning Russia for hacking the DNC & criticizing the pharmaceutical industry in Japan supports the growth expectations among the traders. This helped the indices to trade on higher side. The forthcoming FOMC Yellen speech along with other Fed officials & ECB Meeting Minutes Accounts on Thursday will remain significant for DE30. Buying bias at lower levels may be recommended for the day.

Resistance – 11721-11792 Pivot –11620

Support – 11549-11448 Expected Trend - Bullish

 

GOLD Technical Analysis for Today Morning 
 

12.01.2017

Gold is trading at 1197.74, 0.78% up since Wednesday. A sharp rise can be seen in Gold since the previous session following the event of U.S-elect president Donald Trump’s first formal Press Conference. The failure of revealing future plans towards fiscal plans, tax cuts & infrastructural spending made the US Dollar softer; which led into strong Gold being a safe haven instrument.

An upcoming FOMC Yellen speech along with other Fed officials & ECB Meeting Minutes Accounts on Thursday will largely determine the trend in Gold. The U.S is to publish its Jobless Claims data on today evening. As seen in the chart, the Gold is trading at Fibo level of 38.2 showing the chances of breakout to test $1216 level if breached.

Resistance – $1200.3-$1209.96 Pivot – $1188.71

Support – $1179.56-$1167.6 Expected Trend - Bullish

 

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USD/JPY Technical Analysis for Today Morning 
 

12.01.2017



USD/JPY is trading at 114.638, 0.84% down since Wednesday. The YEN strengthened against the US Dollar Index post release of Donald Trump’s first Press Conference since November 8 which failed to specify more details about the fiscal policies & tax cuts. Also, Trump criticized the pharmaceutical industry which subdued the Japanese stocks & hence, the news turned highly positive for YEN.

In early trade on Thursday, the Japan revealed Bank Lending data which rose to 2.6% higher than the expectation of 2.4% & Current Account surplus climbed to 1.80T from the forecasted figure of 1.48T. As seen in the chart, the pair is trading at Fibo level of 23.6 indicating the chances of breakdown if breached.

Resistance – 116.783-118.116 Pivot – 115.494

Support – 114.121-112.892 Expected Trend - Bearish

 

 

DE30 Technical Analysis for Today Morning
 

12.01.2017

DE30 traded at 11651, 0.44% up since previous day close. The European indices sharply moved upside following the momentum in U.S markets post release of Donald Trump’s first formal Press Conference since November 8. Despite a lack of details on fiscal policies, the other administrative actions like the broader tax on U.S companies for shifting business to the foreign countries,

condemning Russia for hacking the DNC & criticizing the pharmaceutical industry in Japan supports the growth expectations among the traders. This helped the indices to trade on higher side. The forthcoming FOMC Yellen speech along with other Fed officials & ECB Meeting Minutes Accounts on Thursday will remain significant for DE30. Buying bias at lower levels may be recommended for the day.

Resistance – 11721-11792 Pivot –11620

Support – 11549-11448 Expected Trend - Bullish

 

GOLD Technical Analysis for Today Morning 
 

12.01.2017

Gold is trading at 1197.74, 0.78% up since Wednesday. A sharp rise can be seen in Gold since the previous session following the event of U.S-elect president Donald Trump’s first formal Press Conference. The failure of revealing future plans towards fiscal plans, tax cuts & infrastructural spending made the US Dollar softer; which led into strong Gold being a safe haven instrument.

An upcoming FOMC Yellen speech along with other Fed officials & ECB Meeting Minutes Accounts on Thursday will largely determine the trend in Gold. The U.S is to publish its Jobless Claims data on today evening. As seen in the chart, the Gold is trading at Fibo level of 38.2 showing the chances of breakout to test $1216 level if breached.

Resistance – $1200.3-$1209.96 Pivot – $1188.71

Support – $1179.56-$1167.6 Expected Trend - Bullish

 

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