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Weekly Technical Analysis Report 10 January – Bearish Outlook on EURUSD and USDJPY

Weekly Technical Analysis Report 10 January – Bearish Outlook on EURUSD and USDJPY

1. This week’s outlook on EURUSD: Bearish outlook seen

On the H4 timeframe, prices are ranging between 1.0750 and 1.0720, above the resistance-turned-support zone of 1.0620, in line with the 50% Fibonacci retracement. A break below the downside confirmation level could provide the bearish acceleration for a further throwback to the support zone at 1.0620.


Bearish outlook on EURUSD: 10th January by Salzworth on TradingView.com

2. This week’s outlook on USDJPY: Bearish play seen

Prices are facing bearish pressure from the resistance zone at 132.50 on the H4 time frame, which coincides with the 61.8% Fibonacci retracement where we could see limited downside to our support zone at 131.50. Failure to hold below the resistance zone at 132.50 could see prices push higher to test the next resistance zone at 133.00, in line with the 50% Fibonacci retracement.


Bearish outlook on USDJPY: 10th January by Salzworth on TradingView.com

Salzworth Asset Management