The Week Ahead Sept 13 -2014 - Written by Mohammed Isah

USDCHF: Vulnerable On Corrective Pullback

USDCHF: With USDCHF closing on a rejection candle formation (shooting star), it faces the risk of a pullback in the new week. On the upside, resistance resides at the 0.9400 level where a break will aim at the 0.9450 level. Further out, resistance resides at the 0.9500 level. A breather may occur here and turn the pair lower. On the downside, support lies at the 0.9300 level with a break targeting the 0.9250 level and then the 0.9200 level. Further down, support comes in at the 0.9150 level. A cut through here will target the 0.9100 level. All in all, the pair remains biased to the upside medium term but faces a corrective pullback risk

Daily Analysis

USDJPY: Bullish, Eyes Further Upside
USDJPY: Having ended its corrective weakness and resumed its medium term uptrend, further bullishness is expected in the days ahead. On further upside, the 90.50 level will be targeted followed by the 91.47 level and then the 92.00 level. On the downside, support lies at the 89.64 level with a cut through there aiming at the 87.86 level followed by the 87.00 level and then the 86.00 level. We expect a respite to occur here and turn back up but if this fails to occur further decline could develop towards the 84.17 level. All in all, USDJPY remains biased to the upside in the medium term.

Note:This is an excerpt from Pro Plan, our Daily 7-Currency Research Package covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP and USDCAD. Get The Full Package with Trade Alerts Including 3 FREE Bonuses Now

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