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USDJPY Daily Forecast: October 17

Sunday, October 16, 2016 20:24
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USDJPY Forecast
The USDJPY continued its bullish momentum last week but still struggling above 104.20 key resistance area. The bias is neutral in nearest term. Immediate resistance is seen around 104.65. A clear break above that area would expose 105.00/50 region. Immediate support is seen around 103.50 and the trend line support as you can see on my H1 chart below. A clear break below that area could trigger further bearish pressure testing 102.75 area. Overall I remain bearish but only a clear break at least back below 103.50 would potentially end the current bullish correction phase.



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  • Ahmed

    I don’t think we are going to see this continue during the week and there is every chance that we might see the bears coming in and that’s why we need to be very careful with how we go and make sure we have good plans set out and must execute them nicely in order to gain something. I am incredibly lucky to be with OctaFX broker where I get solid push and that’s with the massive rebate available here plus there is also swap free option available making it so special.

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