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JPY News

This is a discussion on JPY News within the Analytics and News forums, part of the Trading Forum category; USDJPY remains in downtrend from 111.57, the rise from 108.13 is likely consolidation of downtrend. Resistance is at 109.40, as ...

          
   
  1. #301
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    Apr 2017
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    USDJPY remains in downtrend from 111.57, the rise from 108.13 is likely consolidation of downtrend. Resistance is at 109.40, as long as this level holds, the downtrend could be expected to continue, and next target would be at 107.00 area. On the upside, a break of 109.40 resistance will indicate that the downtrend had completed at 108.13 already, then further rise to 110.50 area could be seen.


  2. #302
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    USDJPY stays in the descending price channel on 4-hour chart and remains in downtrend from 112.19, the price action from 108.13 could be treated as consolidation of the downtrend. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at 107.00 area. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 108.13 already, then the following rebound could bring price to 110.50 zone.


  3. #303
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    USDJPY is facing the resistance of the descending price channel on 4-hour chart. A clear break above the channel resistance will indicate that the downtrend from 112.19 had completed at 108.13 already, then further rise to 110.50 area could be seen. On the downside, as long as the channel resistance holds, the rise from 108.13 could be treated as consolidation of the downtrend, and further decline to 107.00 area is still possible after the consolidation.


  4. #304
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    USDJPY broke above the top of the descending price channel on 4-hour chart, indicating that the downward movement from 112.19 had completed at 108.13 already. However, the bounce from 108.13 would possibly be consolidation of the longer term downtrend from 115.50. Range trading between 108.13 and 110.57 would likely be seen over the next several days. Resistance is at 110.57, only break above this level will confirm that the downtrend from 115.50 is complete, then the following upward movement could bring price to 113.00 zone.


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