Forex Market News FX charts. : Forex charts for 1/27

Sunday, January 26, 2020

Forex charts for 1/27

USD/JPY 1st support - 107.65 (major) 1st resistance - 110.25 (major) 2nd support - 106.45 (major) 2nd resistance - 111.00 (major) USD/JPY (last 108.87): The pair, as shown on a daily chart, has breached the key support at 108.85 turning the short-term outlook bearish. Currently it has returned to levels below both 20-day and 50-day moving averages, as the relative strength index is badly directed in the 40s showing strong downward momentum for the pair. Unless the key resistance at 110.25 is surpassed, the pair should target 107.65 and 106.45 on the downside.

EUR/USD 1st support - 1.0980 (major) 1st resistance - 1.1160 (major) 2nd support - 1.0880 (major) 2nd resistance - 1.1240 (major) EUR/USD (last 1.1030): The pair has posted a bearish pattern of lower highs while striking against the lower Bollinger band, calling for acceleration to the downside. The descending 20-day moving average has just crossed below the 50-day one, helping to maintain short-term bearishness. Trading below the key resistance at 1.1160, the pair should sink toward 1.0980 and 1.0880 on the downside.

AUD/USD 1st support - 0.6750 (major) 1st resistance - 0.6900 (major) 2nd support - 0.6670 (major) 2nd resistance - 0.6950 (major) AUD/USD (last 0.6808): The pair keeps striking against the lower Bollinger band calling for acceleration to the downside. Meanwhile, it remains capped by the descending 20-day moving average, which has crossed below the 50-day one. Therefore, the short-term technical configuration continues to be very bearish. The trailing key resistance has been lowered to 0.6900. Trading below this level, the pair should fall toward 0.6750 and 0.6670 on the downside.

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