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USDJPY Daily Forecast: October 28

Thursday, October 27, 2016 19:09
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(Before It's News)

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 105.34. The bias is bullish in nearest term testing 106.00 area. Immediate support is seen around 104.80. A clear break below that area could lead price to neutral zone in nearest term testing 104.20. Overall I remain bearish but as long as stay inside the bullish channel the bullish correction phase should remain valid.

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  • It’s interesting that from last one month the trend is really stable upwards and is likely to remain that way till elections, but it will be interesting to see how market reacts after that. I always prefer to keep everything simple and straight forward which is ever easy with help of broker like OctaFX which is very special having low spreads from 0.1 pips to high leverage up to 1.500 while there is also rebate program that covers the part for me!

  • Thanks a lot! I am new to it, so I am learning such an information very carefully. If you are interested, I can recommend you to get some more of such information from http://pipbear.com/forex-tools/economic-calendar/ You will find some great reviews and articles on Forex for you there. I guess, you will definitely like it too

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