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TECHNICAL ANALYSIS MAY.23

Euro

The 4-hour time-frame showed that the pair of majors continued its downwards trading. The analysts from Fort Financial Services said that during the past session the support at 1.1200 was tested. However due to an upward correction, the session ended above this level.

The bulls will maintain the leadership if they break through the resistance at 1.1250. Their target will be 1.1300 and 1.1370.

The bears will regain the initiative if they break through the support at 1.1200. Their target will be 1.1130 and 1.1070.

technical_eurusd_23_05_2016_1

Pound

According to the the 4-hour chart: the British currency passed over some of its positions to the American opponent. The sellers who returned to the market pushed through 1.4560 and reached the support at 1.4480. At the end of the session, the pound strengthened and the price corrected upwards.

The bulls will maintain the leadership if they break through the resistance at 1.4560. Their target will be 1.4670 and 1.4760.

The bears will regain the initiative if they break through the support at 1.4480. Their target will be 1.4400 and 1.4320.

technical_gbpusd_23_05_2016_2

Yen

The 4-hour time-frame showed that the quotes of USD/JPY continued to trade in an upward direction after rebounding from the support at 109.80. Buyers met resistance at 110.50 from where the price turned-around. The analysts from FortFS said that at the end of trading, the yen regained some of its positions.

The bulls will regain the leadership if they break through the resistance at 110.60. Their target will be 111.40 and 112.20.

The bears will maintain the initiative if they break through the support at 109.80. Their target will be 109.00 and 108.00.

technical_usdjpy_23_05_2016_1

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