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USDJPY Daily Forecast: November 28

Sunday, November 27, 2016 20:04
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USDJPY Forecast
The USDJPY continued its bullish momentum last week, topped at 113.89 but closed a little bit lower at 112.94 and hit 111.55 earlier today. The bias is bearish in nearest term. As you can see on my daily chart below, after a strong bullish run, we have an indecisive candle followed by a potential bearish candle (today’s candle, so we need to wait until market close today to see whether it’s a bearish candle or not). A clear break and daily close below 111.50 would expose 110.00 region. Immediate resistance is seen around 112.00 followed by 112.50.



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  • Ahmed

    Currently, it’s better to just be outside any trade due to so many major events lined up ahead including the biggie in NFP, so got to be mindful of all that. However, it’s very important that we don’t become overly defensive because then we could miss out on good opportunities and need to be very careful not to do that. I do it all nicely with OctaFX broker using their small spreads from 0.1 pips for all major pairs while there is also mind blowing 50% bonus on deposit!

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