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Thread: USDJPY

  1. #41
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    Over the past 24 hours this pair has broken up past the resistance level at 123.24. This is a bullish sign and a short-term trend line now emerges in the chart below which has acted as mobile support over recent days.

  2. #42
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    As noted before, rebound from 116.13 should have completed at 123.74 already. The whole consolidation pattern from 125.85 is now going to extend with another falling leg. Intraday bias remains on the downside for 116.13/118.05 support zone next.

  3. #43
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    Intraday bias in USD/JPY remains on the downside for the moment. Fall from 123.74 is viewed as another leg inside the consolidation pattern from 125.85. Deeper decline should be seen for 116.13/118.05 support zone.

  4. #44
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    The USD/JPY pair broke higher during the course of the day on Tuesday, as we continue to find buyers below. With this, we feel that this market should continue to grind its way towards the 124 level, and with the FOMC Statement coming out today, we could have the volatility to push this market higher. We believe the pullbacks are buying opportunities as the 120 level should essentially be the “floor” below. We have no interest in selling this marketplace, and believe eventually we will break above the 125 level, which could be facilitated by a hawkish statement.

  5. #45
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    The USD/JPY pair fell initially during the course of the session on Thursday, and then turned around to form a fairly bullish candle. If we can break above the top of the range for the Thursday session though, we are buyers as the market should then reach towards the 123.50 resistance barrier. Pullbacks at this point in time should be buying opportunities, and as a result we are very bullish of this market but also recognize that patience will be needed in order to continue to start buying. Selling isn’t even a thought.

  6. #46
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    The H4 chart below shows how during last Monday’s New York session, the price fell to touch this level, quickly respecting it with a wick followed by a bullish engulfing candle which immediately broke to the upside. The price rose steadily before topping very close to a key resistance level, giving a maximum reward so far of about 260 pips for a risk of about 60 pips.

  7. #47
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    USDJPY has surged higher, taking out resistance from the mid-January high at 118.39 to complete a small base, before finding an initial cap on the approach of the 38.2% retracement of November/January sell-off at 118.95. Above here is needed to suggest a further recovery towards 119.72 at first, ahead of 120.00 where we would expect selling to show. A break above the latter though can see strength for the late December high and 55-day average at 120.67/86 next.

  8. #48
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    The USD/JPY has a general up trend and it significantly raised during the end of the previous week. It seems quite reasonable to me to open a by in the beginning of the next week.


  9. #49
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    Strong support would be seen from 115.96 to bring rebound. However, sustained break of 115.96 will carry larger bearish implications.

  10. #50
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    At this point, we maintain that price actions from 125.85 are viewed as a sideway consolidation pattern. Thus, strong support would be seen from 115.96 to bring rebound. Above 118.23 minor resistance will turn bias to the upside. However, sustained break of 115.96 will carry larger bearish implications.

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indicators, long term, support

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