Market Technical Analysis by RoboForex

[Vlad RF]

USDJPY under pressure: uncertainty about Japan and China intensifies

The USDJPY rate is slightly declining after rising for two trading sessions. Find out more in our analysis for 15 October 2024.

USDJPY technical analysis

The USDJPY H4 chart shows the market has broken above the consolidation range at 149.30. A growth structure is expected to develop today, 15 October 2024, aiming for 150.20. After reaching this level, the USDJPY rate could decline to 149.30 (testing from above).



The USDJPY rate remains under pressure amid uncertainty about the BoJ’s monetary policy and the yen’s weakness due to China’s fiscal stimulus package.

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Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

 

[Vlad RF]

EURUSD: New York manufacturing activity fell to its lowest level since May

The EURUSD rate has been declining for the third consecutive trading session. More details are available in our analysis for 16 October 2024.

EURUSD technical analysis

The EURUSD H4 chart shows that the market has completed a downward wave towards 1.0881, extending the boundaries of the consolidation range around 1.0916. The price could rise to 1.0916 (testing from below) today, 16 October 2024. After reaching this level, the EURUSD rate is expected to plunge to 1.0833.



The data on declining manufacturing activity in New York may deter further declines in the EURUSD rate. This week’s crucial economic reports, including US retail sales and industrial production, may determine the pair's future direction.

Read more at RoboForex Website

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team