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USDJPY Daily Forecast: October 27

Wednesday, October 26, 2016 20:30
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USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. Overall I remain bearish but as you can see on my H1 chart below price is moving inside a bullish channel after broke above the H1 EMA 200 suggests a valid bullish correction phase. Immediate support is seen around 104.20. A clear break below that area could trigger further bearish pressure testing 103.50 and the lower line of the bullish channel. Immediate resistance is seen around 105.00 followed by 105.50.

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  • USD/JPY is a sort of pair which we need to very careful with as it’s on the upswing, but still we can see that the pair is in pressure and is going to bring profits. I trade with OctaFX broker where they have excellent features and facilities with low spreads from 0.1 pips for all major pairs while there is also swap free account that helps me working with no worries about overnight charges so it keeps me comfortable with things.

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