Thread: Usd/Jpy
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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USD/JPY Mid-Day Outlook
Daily Pivots: (S1) 98.23; (P) 98.53; (R1) 98.81; More...
USD/JPY drops sharply to as low as 97.24 so far today and focus is back to 96.90 minor support. Break will indicate that rebound from 95.80 has completed and will turn bias back to the downside for 95.80 and below. Overall outlook is unchanged as price actions from 103.73 is viewed as a consolidation pattern and is still in progress. Below 95.80 will likely target 93.78 and below. On the upside, above 99.14 will turn bias back to the upside for 99.94 resistance first.
In the bigger picture, USD/JPY made a top at 103.73 and turned into consolidations. Some more sideway trading would be seen below 103.73. In case of another fall, downside will likely be contained by 92.56 support and bring rebound. Rise from 103.73 is expected to resume after the consolidation.
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today i like to sell this pair @ 97.43
my stop loss of the day @ 97.58
half take profit for today @ 97.17
and further half take profit @ 96.88
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Alternative load forecast for the strengthening of the Yen and the couple as expected came down to the level of 97.77. from which it sprang.* Expect growth of pair to an abandoned level of 98.50 and an attempt to gain a foothold above. But all this happens at the exit of positive statistics for the U.S., which raises doubts on the background of the negative lately.* An alternative can be a flat of the range between EMA200 and the level of 97.70, while reducing the options to 97 so do not exclude it.
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A critical analysis i made yesterday with this pair is the downward movement which had continued till now that we see and we expect the continued downward movement of this pair before the non-farm payroll ensues.
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the H1 time frame charts on currency pairs usd/jpy
such as the support resistance on
R3 = 99.4
R2 = 99.13
R1 = 98.82
Pivots = 98.55
S1 = 98.24
S2 = 97.97
S3 = 97.66
with today's market position is at point 97.31
then I strongly recomended you to the open position BUY
consideration for stop loss at 97.06 and take profit at 97.56 Good luck all
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USD / JPY broke through the sliding confidently alligator and reached a new weekly low, the pair is still forming the southern aggressive waves and the potential drop is good because on the way to 96.90 practically no strong levels. 96.90 and will be as long as the main goal, we continue to work off southern signal stochastic and RSI.
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