First, a review of last week’s predictions:
The USD/CHF pair gave the impression that Swiss bankers closed down for the holidays – the pair went neither up nor down but remained at the pivot point of the past 3 weeks, i.e. 0.9900.
Forecast for the Coming Week
It has to be noted that all analysts are off for the holidays, and thus forecasts will be based on graphical and technical analysis for the time being.
All indicators point downward for USD/JPY. However, graphical analysis on H1, H4 and D1 indicates that the pair will try to recover last week’s losses – first, it will return to resistance at 121.15, then rebound to support at 120.25 and again go up to 121.45.
Roman Butko, NordFX
The USD/CHF pair gave the impression that Swiss bankers closed down for the holidays – the pair went neither up nor down but remained at the pivot point of the past 3 weeks, i.e. 0.9900.
Forecast for the Coming Week
It has to be noted that all analysts are off for the holidays, and thus forecasts will be based on graphical and technical analysis for the time being.
All indicators point downward for USD/JPY. However, graphical analysis on H1, H4 and D1 indicates that the pair will try to recover last week’s losses – first, it will return to resistance at 121.15, then rebound to support at 120.25 and again go up to 121.45.
Roman Butko, NordFX