The EURJPY has been technically bearish for an extended period of time, as there have been consistent lower lows and lower highs. Since the hefty decline on the 22nd of October when prices breached the 135.00 support, the pair has depreciated by over 500 pips with the current downwards momentum warranting a further decline towards the lows of April 2015 at 127.00. Prices are currently below the daily 20 and 200 SMA with the MACD deep into the downside. Previous support at 131.00 may act as a dynamic resistance which may invite sellers to send prices towards the next relevant support at 129.00.
The CHFJPY has followed a smooth downwards trajectory since the start mid-October. This pair has produced consistent lower lows and lower highs with prices keeping below the daily 20 SMA. A breakdown below the 118.50 support may open a path to the next relevant support at 115.00. This bearish outlook on the CHFJPY remains valid as long as prices can keep below the 120.50 level. With the potential three black crows candlestick formation created last week, mixed with the fact that the MACD trades to the downside, this remains heavily bearish.
This pair is in the process of breaking to the downside. The psychological 1.600 support has acted as a strong defense since the 11th of June 2015 and a breakdown may cause a sharp decline to the next relevant support based at 1.560. Prices are currently trading below the daily 20 SMA and the MACD has crossed to the downside. A solid daily close below the 1.600 may invite an opportunity for sellers to send this pair towards 1.560. If prices trade back above 1.640 this may suggest some bearish weakness.
This pair is in the process of turning heavily bullish on the daily timeframe. Prices have broken away from the 0.6700 support and this may invite the opportunity for a further incline towards 0.6900. The candlesticks currently trade above the daily 20 SMA and the MACD has also crossed to the upside. A move back below 0.6600 may invalidate this bullish daily outlook.
The heightened expectations around the Fed raising US rates in December have continued to punish Silver for an extended period of time. With over five weeks of a consistent decline, this metal is heavily bearish and a breakdown below the $14.00 support may encourage sellers to send prices lower towards the $13.00. Prices are trading below the daily 20 SMA and the MACD has also crossed to the downside.
This index is technically bullish on the daily timeframe. Prices are trading above the daily 20 SMA and the MACD has crossed to the upside. A breakout above the 6425 resistance may open a path to the next relevant level based at 6500.
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