RedstoneFx Analyst
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Redstone Morning Analysis 22/1/2021

USD/JPY

Trend Theme:USD/JPY: Fibonacci support at 103.25.

Trend Review:USD/JPY is technically bearish and could extend its slide towards 102.50 as BOJ left monetary policy unchanged, downgraded growth forecast. Today the focus is on the ECB and US employment-related data.

Today Advise:Bearish

Key Levels:

PPResistance*103.67 *103.84 **104.01 ***
103.50Support*103.33 *103.16 **102.99 ***

Position Datas:

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AUD/USD

Trend Theme:AUD/USD drops to test 0.7750 amid weaker Aussie data, USD rebound.

Trend Review:AUD/USD drops to 0.7750, as the sellers return in a delayed reaction to the weaker-than-expected Aussie Retail Sales data. Broad-based US dollar rebound amid the downbeat market mood also weighs down on the aussie. 

Today Advise:Bullish

Key Levels:

PPResistance*0.7785 *0.7805 **0.7827 ***
0.7762Support*0.7742 *0.7720 **0.7699 ***

Position Datas:

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WTI-OIL

Trend Theme:WTI: Stuck in a triangle around $53.00.

Trend Review:WTI eases to $53.01 during the initial Asian trading on Friday. Even so, the energy benchmark keeps the previous day’s bounce off 100 and 200-HMAs inside a nine-day-old symmetrical triangle. Considering the upbeat RSI conditions and the quote’s ability to stay above important moving averages, WTI buyers are up for challenging the resistance line of the stated triangle, at $53.65.

Today Advise:StronglyBearish

Key Levels:

PPResistance*53.34 *53.69 **54.00 ***
53.03Support*52.68 *52.37 **52.02 ***

Position Datas:

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XAUUSD

Trend Theme:Gold bulls catch a breather above $1,850 amid virus woes.

Trend Review:Gold fades recovery moves from $1,858.43, stays near two-week top. The yellow metal refreshed two-week top the previous day on stimulus hopes but the coronavirus (COVID-19) and downbeat data from the US, not to forget upbeat ECB, probes the bulls afterward.

Today Advise:Bearish

Key Levels:

PPResistance*1876.74 *1884.35 **1893.51 ***
1867.58Support*1859.97 *1850.81 **1843.20 ***

Position Datas:

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