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Hi! I moved out buying the pair because of fundamental and technical reasons with inside the day looking negatively. On the 4 hour chart, we are trying to work on the envelope but still open for growth while in the area of buyers in both of the ADX and within the envelope. However, I am skeptical to enter below 111.15 since this hints the first signal of fixing profits. Another aspect I am uncertain is fighting for the middles line which is still in the zone of buyers for a longer period. Considering the medium term, it’d be best not to go lower than 110.60, where the exit should take place. Then, the present situation of a correction in the second wave can be confirmed and anticipate for a further rise of the third wave.
In the fundamental aspect, the bears are being top dog at all of the markets. I did not go into details on the foreign headlines and everything looks the same about the Trump administration, Turkey, and other headlines. It is enough to focus on the commodity market, the bond market and stock indices. Bears are highly pressured with a high demand of the Japanese yen. Although, the correlation of the latest assets is not that good. Commodities such as oil, aluminum, and metal are declining, which causes a slight trepidation among risky assets. There is a flow of debt that lead to dropping in treasury securities. American treasuries bounced from 2.90% by more than 20 points. The general outlook of the credit system has all tried on red.
Yet, bulls have nothing to do with it, at least for today. I will attempt to buy around 110.60 and if it goes down, it would have already broken down from the initial phase of growth and it is needed to look for the reaction of the price in approaching for the lower limit in the inclined area of 110.20. Below of which, a turn may be completed and beat the bulls.
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Achieved the dollar versus the yen strong break to the level of 122.00 and fell sharply, touching 76.4% Fibonacci correction of the rise, this level is at 120.50, and breaking it would extend losses pair to reach the bottom level registered in advance at 118.87.
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UsdJpy
I see this pair still in strong bullish movement . If this pair can resistance level at 109.27 I predict this pair will go up to the next resistance level at 108.77 But if this pair go down and break support level at 109.78 I predict this pair will make some correction to the next support level at around 110.28, Sell signal is indicated from the Simple Moving Average and Bollinger Bands indicator . I suggest to entry Sell with and take profit at 108.76
and put StopLoss at 109.62
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USDJPY Today Analysis
Market Trend Bullish
Pivot Point 109.48
S 1 >>>>> 109.28
S 2 >>>>> 108.90
S 3 >>>>> 108.75
R 1 >>>>> 109.85
R 2 >>>>> 110.00
R 3 >>>>> 110.38
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Trend is Sell
R1: 109.663
R2: 109.674
R3: 109.688
S1: 109.633
S2: 109.619
S3: 109.605
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UsdJpy technical analysis by using : Auto pivot indicator.
Parabolic SAR indicator there a dot below the candles that indicates a upward direction in addition to that we can see a BUY signal on the MACD indicator that is moving above the level 0 beside that the CCI line is located at the higher level to perform a upward signal on the chart of the this pair there is a main up trend signal as the 2 EMA 5 and 6 are moving above the slow EMA of 35 and if other indicators confirm a bullish direction then I will go for “BUY” positions.
resistance level 1 : 110.96
resistance level 2 : 110.59
resistance level 3 : 110.25
pivot point : 109.88
support level 1 : 109.54
support level 2 : 109.17
support level 3 : 108.83
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my analysis of usd.jpy
Resistance and Supporting level today,s*
Today Trend is:bullish*
Resistance level today,s is
First Resistance is: .....109.80
Second Resistance is: 109.99
Third Resistance is: ....110.30
Supporting levels today,s is
First Support is:...... 109.40
Second Support is: .109.20
Third Support is:..... 108.90
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We expect that the negative pressure continues to dominate on the pair in the coming sessions, depending on the breach of 61.8% Fibonacci resistance, which is now at 121.53, indicating that the breach of this level followed by the 122.00 level will spur price to stop the current negative pressure and then restore the main track rookie .
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USDJPY Analysis
R3 109.78
R2 109.73
R1 109.68
PP 109.63
S1 109.58
S2 109.53
S3 109.48
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Hi Friends, good evening. USDJPY attempted to break 109.44 but it returns to fluctuate above it, and the negative pressure formed by the EMA50 still valid, waiting to resume the negative attempts and target 108.80 that represents next target.
In general, will keep bearish overview unless breaching 110.08 level and holding above it. The expected trading range for today is between 108.80 support and 110.20 resistance. The expected trend for today is Bearish. Best of luck Traders.
