Forex update
Bank of Japan amazed the world with its negative interest rate . Our favorite forex pair fired due to that news . Lets have today’s day trading levels for major fx pairs .
USD/JPY
After tremendous fired usd/jpy trading at 120.80 . A good support on intraday forex chart at 120.30 . Once sellers take this support and manage to sustain below our support . Then expect traders to enjoy more downside upto 119.90 – 119.30 today .
A good resistance on usd/jpy resistance at 121.26 . Once forex traders break this level and manage to sustain above our resistance . Then expect market to zoom upto 121.60 – 122 today .
usd/jpy trend update : Trend is positive for now .
EUR/USD
Euro trading lower today at 1.0903 . A good support on intraday chart for this major forex pair at 1.0850 . Once traders break this and manage to sustain below our support . Then expect eur/usd to crack upto 1.0800 – 1.0750 today .
A good resistance in eur/usd chart at 1.0945 . Once forex traders manage to break this resistance . Then expect market to zoom upto 1.0990 and more .
eur/usd trend update : Trend is flat to weak for now .
USD/CHF
Usd/chf trading at 1.0198 . A good resistance on this major forex pair chart at 1.0230 . If traders break this resistance and manage to sustain above our hurdle . Then expect usd/chf to zoom upto 1.0260 – 1.0299 today .
A good support in usd/chf chart at 1.0130 . Once traders break this support and manage to sustain below our support . Then expect traders to enjoy upto 1.0080 – 1.0040 today .
usd/chf trend update : Trend is positive for now .
Currently USD is in positive zone which is causing surge in dollar pairs. Avoid major sell in dollar pairs as Greenback is pretty strong for now.
Euro is weak due to strong dollar only so avoid major buy in that. Keep an eye on European data which could give a relief to euro price.
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This post is edited at July 24, 2018.