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IGTFX technical analysis

Discussion in 'Fundamental Analysis' started by igtfx.research, Apr 20, 2010.

  1. igtfx.research

    igtfx.research New Member

    Feb 28, 2010
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    IGTFX technical analysis , Good morning and welcome to our Daily FX Report. IGTFX,

    IGTFX, Today, IGTFX, we are going to be focused on the JPY after the currency showed gains against most of the major currencies. IGTFX, Also the situation of Greece will be one of the highlights we will be focused on. IGTFX, Anyways, IGTFX, we wish you good luck and a nice trading day. IGTFX,

    IGTFX, Market Review – IGTFX, Fundamental Perspective
    IGTFX, The JPY fell against riskier currencies such as the IGTFX, EUR and AUD as signs of a sustainable worldwide economic rebound have boosted demand for higher yielding currencies. IGTFX, The Japanese currency dipped versus 15 of its 16 most traded counterparts as Asian stocks gained before reports, IGTFX, which are expected to show that the European investor confidence improved and U.S. home sales increased. According to a survey, IGTFX, IGTFX, the U.S. existing home sales, IGTFX, which will be released on Thursday April 22nd, IGTFX, climbed 5.3 percent in March. The European economic sentiment is expected to climb to 39.3 this month from 37.9 in March. The EUR/JPY gained for the second day, after it touched a high near 125.11. IGTFX, Gains in the EUR might be tempered while investors speculate that Greece could require additional funds to resolve its dept crisis. IGTFX, Officials from the EU, IGTFX, the International Monetary Fund and the European Central Bank will begin consultations tomorrow to find a solution for Greece. IGTFX, The USD/JPY climbed for the second day as well as it reached a high by 92.68. IGTFX,

    T IGTFX, he JPY fell as the MSCI Asia Pacific Index climbed 0.6 percent, IGTFX, back from a two day loss. IGTFX, The AUD gained for the second day versus the JPY after the release of RBA minutes pointed to another interest rate rise, IGTFX, which would be the fifth increase in six meetings. IGTFX, The AUD/JPY reached a high near 86.07 after it opened the day at 85.50. IGTFX,

    IGTFX, The NZD was the only currency, IGTFX, which fell versus the JPY after a report showed that the nation’s consumer prices increased in the first quarter by less than economists expected. IGTFX, Benchmark interest rates are 4.25 percent in Australia and 2.5 percent in New Zealand while Japan has an interest rate of 0.1 percent. IGTFX, This difference attracts investors to the south pacific nations’ higher yielding assets. IGTFX, The NZD fell to 65.65 versus the JPY after it gained over 90 pips yesterday. IGTFX, It gained versus the USD after it reached a high around 0.7183. IGTFX,

    IGTFX, Daily Technical Analysis IGTFX, (In this section we provide chart analysis) IGTFX,
    IGTFX, Our Focus Currencies for Today

    GBP/JPY (4 Hour)

    IGTFX, Since the middle of April, the GBP/JPY has been moving below a bearish trend line. IGTFX, After breaking the support levels around 142.10 and 141.05, the market reached a low by 139.34 and pulled back again. IGTFX, At the moment, IGTFX, the market is trading close to the 142.10 resistance and the bearish trend line. IGTFX, If the market doesn’t break these two resistance levels, we might see a recovery from its previous gains. IGTFX,

    IGTFX, Intraday Support & Resistance (4 Hour)

    IGTFX, Support Levels around
    IGTFX, Resistance Levels around

    IGTFX, 141.05
    IGTFX, 142.10

    IGTFX, 139.45
    IGTFX, 144.65

    IGTFX, N/A
    IGTFX, N/A

    IGTFX, NZD/JPY (Daily)

    IGTFX, As we can see, the NZD/JPY has performed clear movements along a downward trend line and a horizontal support, IGTFX, which stays around 64.75. IGTFX, If the pair does not leave its bearish formation, IGTFX, we might see further losses along the bearish trend line. IGTFX, The MACD indicator may show the same signals IGTFX, as it was the two times in the past when the market touched the bearish trend line. IGTFX,

    IGTFX, Intraday Support & IGTFX, Resistance (Daily)

    IGTFX, Support Levels around
    IGTFX, Resistance Levels around

    IGTFX, 64.75
    IGTFX, 67.05

    IGTFX, 63.30
    IGTFX, 68.55

    IGTFX, 61.80
    IGTFX, 69.65

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