Hi everyone! This is my first time posting here and I thought I'd share my ideas and analysis. Any discussion is welcomed. My observation were made around 2:30 UTC.
- USDJPY is still moving along the boundary of a rising parallel channel, and in bullish uptrend.
- Stochastic oscillator value is below 30, entering an oversold range.
- RSI oscillator is steadies around 50 value.
- Resistance line of 109.827 and 111.678.
- Support line of 108.808 and 107.895.
- Pair pulled back on Friday last week after some 'end of the week' profit-taking. However, the uptrend has not broken yet.
- EURUSD is still moving along the boundary of a rising parallel channel, and in bullish uptrend.
- Dollar fell against other currencies after surprising improvement in U.S. labour market data bolstered expectations for economic recovery, which reduced safe-harbour demand for the greenback.
- Resistance line of 1.1383 and 1.1492
- Support line of 1.1200 and 1.1146.