USDJPY – We continue to see signs of bottoming in the USDJPY pair with several factors pointing to further gains in the coming days and weeks. With the pair above minor support at 77.41 there is scope for additional gains over the coming sessions. Pullbacks should be limited to 77.41 with good support in place [...]
EURUSD - Following a strong spike following the NFP figures the pair has fallen back. However the outlook still looks constructive as the pair gradually grinds its way higher from recent lows. A close above the 20 day SMA on the daily chart (currently 13485) would add momentum for additional near term gains, with another run [...]
The principal tool used by the Forex technical analyst is the chart. This is the basic tool which is used to study the historical price action of the markets.
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In starting our section on Technical analysis it makes sense to define what exactly Technical analysis is.
