Technical Analysis on EUR/USD,GBP/USD,USD/JPY, Jan 21,2016
During the session today, we are expecting the interest rate decision coming out of European Central Bank. It is believed that this meeting won’t reach an agreement on extending quantitative easing policy. However, we believe the inflation rate in Eurozone is approaching the inflation warning level, which should offer considerable resistance to EUR.
EUR/USD
Seen from the 1-hour chart, the MACD of EUR/USD is bending toward the 0 axis, so we are mainly buyers of put options. Put options should be suspended at 1.0860. If be broken, put options can be continued.
Support：1.0847/1.0817 Resistance：1.0900/1.0955
GBP/USD
The contemporary bullish momentum of the GBP/USD is increasing as the MACD is shrinking towards the 0 axis. The pullback can be strengthened if it closes above 1.4250 at the end of today’s session.
Support：1.4147/1.3504 Resistance：1.4216/1.4300
After a big pullback yesterday, the USD/JPY is falling down as it encountered resistance at 117.60 during the morning session.Call options can be purchased with caution during the session today.
Support：116.95/116.15 Resistance:117.60/117.71
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