Technical Analysis on EUR/USD,GBP/USD,USD/JPY, Jan 20th,2016
During the session today, we are expecting the interest rate decision released from Bank of Canada as well as currency policy report at 15:00(GMT). This interest rate decision has been a widespread concern as USD/CAD has been traded at high level, which is quite rare for the past ten years. Therefore, it is likely that USD/CAD will surge up at the moment when decision releases.
EUR/USD
Seen from the 1-hour chart as well as the 4-hour chart of the EUR/USD, it is traded with a positive bullish momentum. With that being the case, we are buyers of call options.
Support：1.0880/1.0863 Resistance：1.0941/1.0980
GBP/USD
We favor of put options since the GBP/USD continues to fall. It should be noticed that a pullback may occur during the morning session.
Support：1.4000/1.3504 Resistance：1.4217/1.4250
Seen from the 1-hour chart, a consolidation pattern has been formed in the bottom of USD/JPY, which can be possibly developed into a contemporary head and shoulder pattern. As the MACD is shrinking towards the 0 axis with a bearish trend, we prefer buying put options until it reaches at 117.00.
Support：117.00/116.50 Resistance：118.00/118.42
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.
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