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USDJPY Daily Forecast: November 11

Thursday, November 10, 2016 20:57
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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 106.94. The bias remains bullish in nearest term testing 107.50 but as you can see on my H4 chart below price is in my “sell zone” with a tight stop loss above 107.50. Immediate support is seen around 106.00. A clear break below that area could lead price to neutral zone in nearest term testing 105.50 or lower.

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  • USD/JPY has really took off and remained that way only but I believe things are meant to drop and we could see the level of 105 soon been pulled in the picture, so I will be interested to see how market reacts to all that and it will be really important levels to see. I will prefer to go for shorts here and thanks to OctaFX broker, I am not required to worry at all about swap due to Islamic Account that I operate with.

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