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USDJPY Daily Forecast: October 19

Tuesday, October 18, 2016 20:38
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USDJPY Forecast
The USDJPY was indecisive yesterday formed a Doji on daily chart. Price slipped below the trend line support but found a good support at the H1 EMA 200 as you can see on my H1 chart below. The bias is neutral in nearest term probably with a little bearish bias especially if price able to make a clear break below 103.50 testing 102.75 area. On the upside, 104.20 area remains a key resistance and good place to sell with a tight stop loss. Overall I remain bearish.

usdjpyhourly

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  • At the moment, it’s very tough to go for long term trade with no clear direction (trend), it’s better that we analysis well and trade only when we are certain of any trend because only then we will be able to benefit. I am quite lucky that I am trading with OctaFX broker where I get excellent support with figuring this out using their expert daily market news and analysis updates, it’s ever easy to follow yet highly effective making it ever so good.

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