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USDJPY has just managed to withstand the DXY upside quite substantially and looks like it could continue to fall from this point. 106 was the original target, however I think 105.500 would be more suited due to the location of the fibonacci support zone.
Further downside is possible for this pair after resistance was identified. Furthermore, looking at the fibonacci resistance fan, the price has fallen out of it's main upside trend as highlighted in red and is falling through the different fan lines. Support may be found at the 107.00 region, however it will likely be stronger at the 106 / 105 levels.
Updates downside prediction for EURAUD after Mondays huge market volatility. What comes up must come down, back to the SMA's to reconfirm support as stage one, where we may see the price test the next fibonacci support level due to higher time frames weighing the retrace down.
Right then after a very volatile period due to coronavirus, it is time to move on as best as possible with unaffected pairs. Currently we have found a sell off available for CHFJPY, which does not seem to have the volatility issues presented currently through other main currency pairs.
A death cross is looking due on the daily charts, towards the fibonacci level...
Downside is looking likely for the GBP against CHF after the Brexit bull run completed. The daily has just dropped below all SMA's encouraging a death cross to form. Furthermore the price has comfortably held below 200SMA for around a week now, after two failed test attempts.
We previously sold this pair at 50SMA if you look through the analysis available on our profile; it looks like the downside is due to continue after ending last week with a hammer at the Fibonacci levels highlighted. April 2018 low is the overall target.
We may have a short consolidation period whilst we wait for the SMA's to complete their moves, however downside seems to be present for this pair on a mid to long term basis based off of the death cross beginning to form on the daily time frame between the 50 and 100 SMA's.
Further we have a clear rejection on the fibonacci retracement scale, acting as...
As we enter into August of 2019 we are back to what is considered life time lows for the British Pound, seen previously in 2017 due to similar circumstances surrounding the issue of Brexit. To throw things into the mix, are we now entering the period where it's a good idea to begin buying GBPUSD?
If we look at the entire picture available as shown on the monthly...