Crude oil analysis
Crude oil prices trading at 47.85$ , it tested 47.30$ last night and now recovered in early morning session . A good support on daily chart stands at 47$ , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major commodity prices upto 46.30$ – 45.70$ .
A good resistance on daily chart stands at 48.45$ , if traders take this hurdle out and manage to sustain trade above our resistance today . Then expect good firepower from this black gold upto 49.20$ – 50$ .
Crude oil analysis conclusion : Oil trend is flat to positive for now .
USD/JPY analysis
USD/JPY trading at 109.64 , its trading higher since morning and continuously trying to catch up 110 . A good base level on daily chart stands at 109.30 , if traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major forex pair upto 109 – 108.60 today .
A good hurdle stands in this fx pair at 110 , if traders take this major hurdle out and manage to sustain trade above our resistance today . Then expect usd/jpy to test upto 110.40 – 110.80 .
USD/JPY analysis conclusion : Trend is positive for now but avoid any major buying on these levels .
More will update to our trading signals subscribers .