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Thread: USDJPY

  1. #1
    Senior Member fxtester's Avatar
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    Default USDJPY


    Here, this is very interesting. USDJPY is at a stake, where it can bounce or break a major down trendline.

    Of course, there is more probability for a bounce, even if the US economy has some good economy indicators right now, there are still a lot of dark spots (underrated unemployement, growing poverty, ...).

    One day, the trendline will be broken, it's not yet the moment.

    The price will go south up to the major red support.

    The upcoming long term down trend will be slow, it will take 4-5 years.

  2. #2
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    As a further development of the yen can be expected out of the sideways trend with testing the lower limit of the pennon at 116,30

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    Trend expected direction is definitely flat, but I suppose it's going to grow up. The appropriate plan for the daily trading is buy, at 121.55.

  4. #4
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    Trading the both sides of the market is recommended. I opened buy at 120.70 and TP at 121.20 with stop loss located just above 120.50.

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    The immediate focus turns higher for the recent high and trendline resistance at 120.44/52. Strategy: Long at 119.20, stop below 118.45, for 121.10.

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    A break below 119.6 would trigger a drop towards 119.4. These point are targets with stop loss at 120.3.

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    Quite frankly, I would prefer to see pullbacks that offer support on short-term charts in order to get involved, that way I can take advantage of perceived value. Ultimately though, I do believe that this pair goes higher and heads towards the 122 handle.

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    Below 120.7 look for further downside with 120.3 & 120.1 as targets.

  9. #9

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    The pair has fallen a bit but it seems there is a good bullish sign but we have to wait for major news release to see its further course of action.

  10. #10
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    I believe that the 121 level is now going to be the “floor” in this marketplace going forward. I have no interest in selling, because of interest-rate expectations out of the Federal Reserve.

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indicators, long term, support

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