The Analytical Overview Of The Main Currency Pairs - Tuesday, Apr. 27

Alternative scenario: if the price breaks down the support level 1.3944 and holds below, the price will go to test the 1.3794 level. Moving below 1.3794 will temporarily cancel the bullish scenario on the current timeframe.

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There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:

  • Prev Open: 107.89
  • Prev Close: 108.08
  • % chg. over the last day: +0.17%

On Monday, the USD/JPY price increased by 0.17%. The price broke through the local descending channel but then became flat in front of the resistance level. As a rule, such price behavior occurs before the breakout, which has eventually happened. The breakout was triggered by the news about the Interest Rate decision. But we should not forget about the H1 context, which is still bearish, as the price is still trading below the moving average.

Trading recommendations

  • Support levels: 108.19, 107.77, 107.47, 107.04, 105.92
  • Resistance levels: 108.54, 109.36

The priority is still downward, but there are already the first signs of a reversal. But as long as there is no breakout of the nearest resistance level, it is better to continue opening sell positions.

Alternative scenario: if the price drops below 108.19 again, with a high probability the downward movement will continue.

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News feed for 2021.04.27:

  • – BoJ Interest Rate Decision at 05:00 (GMT+3);
  • – BoJ Monetary Policy Statement at 05:00 (GMT+3);
  • – BoJ Press Conference at 08:00 (GMT+3).

The USD/CAD currency pair

Technical indicators of the currency pair:

  • Prev Open: 1.2474
  • Prev Close: 1.2390
  • % chg. over the last day: -0.67%

On Monday, the USD/CAD currency pair continued to fall with clear signs of downward price acceleration. The price easily broke down two support levels and almost reached the third. The priority is completely bearish, but the further the price deviates from the moving average, the higher the probability of a return. Also, the first signs of price divergence are appearing on the MACD.

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Disclosure: This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, ...

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