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April 29th, 2016 @ 12:38 pm by Muhammad Azeem

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usd-jpyThis is an updated about USD/JPY 4 hours chart sell trade setup.

Trend is bearish in 4 hours time frame. Vital resistance is present at 110.67 price level. Price has showed some signs of selling pressure, which looks like a Bearish Impulse Wave 3 pattern has completed. Based on Elliott wave analysis, price should start a bullish leg now towards 108.25 price level – Wave 4

A good idea is to wait for the price to first move up and complete bullish Wave 4 and then go short. However; if price rise above 110.67 resistance level then I would prefer to stay out of the market and re-analyze the price action in USD/JPY 4 hours chart.
See the attached screen shot image of USD/JPY 4 hours chart.

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April 28th, 2016 @ 11:15 pm by Setyo Wibowo

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EURUSD Forecast    
The EURUSD  had another indecisive movement yesterday but overall still able to maintain its bullish intraday bias and still print higher lows and highs. The bias is bullish in nearest term. As you can see on my H4 chart below, price is now struggling around the trend line resistance. A clear break above the trend line resistance and 1.1370 could trigger further bullish pressure testing 1.1500 area. Immediate support is seen around 1.1300. A clear break below that area could lead price to neutral zone in nearest term testing 1.1250 area. My major technical outlook remains neutral and from a daily chart perspective we have potential strong resistances between 1.1500 – 1.1700 region.

eurusdh4

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April 28th, 2016 @ 10:54 pm by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.4622. The bias is bullish in nearest term testing 1.4670 which is a good place to sell with a tight stop loss. Immediate support is seen around 1.4550. A clear break below that area could lead price to neutral zone in nearest term testing 1.4500 area. On the upside, a clear break and daily/weekly close above 1.4670 could trigger further bullish pressure testing 1.4750 key resistance (daily EMA 200).

gbpusdh4

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April 28th, 2016 @ 10:50 pm by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a strong bearish momentum yesterday after BOJ decided to hold the monetary policy and continue asset purchases. Technically, this fact interrupts the bullish correction phase. The bias is bearish in nearest term retesting 107.60 key support. A clear break and daily/weekly close below 107.60 could trigger further bearish scenario next week targeting 105.00 region. Immediate resistance is seen around 109.00. A clear break above that area could lead price to neutral zone in nearest term testing 110.00 region.

usdjpydaily

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April 28th, 2016 @ 10:42 pm by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum yesterday broke below 0.9715 and the bullish channel as you can see on my daily chart below. The bias is bearish in nearest term testing 0.9570. Immediate resistance is seen around 0.9715. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

usdchfdaily

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April 28th, 2016 @ 3:03 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD was indecisive yesterday. Price attempted to push higher, topped at 1.1361 but closed lower at 1.1319 after touched my trend line resistance as you can see on my H4 chart below. The bias remains neutral in nearest term. Immediate support is seen around 1.1250. A clear break and daily close below that area could trigger further bearish pressure testing 1.1150 before testing 1.1065. Immediate resistance is seen around 1.1361 (yesterday’s high). A clear break and daily close above that area could trigger further bullish pressure testing 1.1500 region. My major technical outlook remains neutral and from a daily chart perspective we have some potential strong resistances between 1.1500 – 1.1700 area.

eurusdh4

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April 28th, 2016 @ 2:53 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. My major technical outlook remains neutral with key intraday resistance seen around 1.4670 as you can see on my H4 chart below. As long as stay below 1.4670 I prefer a bearish intraday scenario at this phase. Immediate support is seen around 1.4500 – 1.4470 area. A clear break and daily close below that area could trigger further bearish pressure testing 1.4400 region. On the upside, a clear break and daily close above 1.4670 could trigger further bullish pressure testing 1.4750 key resistance (daily EMA 200).

gbpusdh4

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April 28th, 2016 @ 2:44 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had another indecisive movement yesterday but overall still able to maintain its bullish intraday bias and hit 111.88 earlier today. The bias remains bullish in nearest term testing 112.50. Immediate support is seen around 111.00. A clear break below that area could lead price to neutral zone in nearest term testing 110.65 key support.

usdjpydaily

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