USDJPY
Let's start today's analysis by looking at the technical situation on the USDJPY currency pair. Looking at the W1 interval, we can see that the pair has experienced enormous volatility in recent weeks. The upward movement continued after the weekend. However, gains were halted just slightly below the key resistance zone at 125.40-125.80, which is marked with the 2015 highs. The current weekly candlestick resembles a shooting star and if the situation does not change by the end of the week, it is possible that we will see a deepening of the downward correction. In such a scenario, the closest support should be Fibonacci retracements - 23.6% and 38.2%.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
USDJPY W1 interval. Source: xStation5
US30
Next, let's look at the situation on the US Dow Jones index (US30). Looking at the D1 interval, we can see that the price is on the right track to return to the uptrend. The US30 broke above the key resistance at 34,900 points during yesterday's session, which is marked with the upper limit of a wide 1:1 geometry. Moreover, the price also broke above the upper limit of the downtrend channel earlier, which may encourage market bulls to become more active. If the upward movement continues, the zone at 35,740 points should be considered as the nearest resistance.
US30 D1 interval. Source: xStation5
OIL.WTI
Finally, let's take a look at the technical situation on oil, where we can observe quite a lot of price fluctuations recently. A head-and-shoulders formation appeared on the OIL.WTI chart, and after the model range (100.40) was executed, a rebound took place. Currently, the 108.80 zone should be considered as the key short-term resistance, and in case it is broken, the next important resistance lies at 116.30. On the other hand, if the downward movement is resumed, the nearest support is located at 100.40, where yesterday's lows are located.
OIL.WTI H1 interval. Source: xStation5
