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Technical analysis for the USDJPY on 19.06.2015

The USDJPY keeps correcting ahead of the BoJ press conference

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 124.45

Min. 121.50

gbpusd12

The downtrend was temporally halted by the last week’s low of 122.55 support. Short-term correction up has commenced with the target at the intraday resistance of 123.30.

The BoJ press conference will take place today. If bulls fail to break above 123.30 resistance amid this high impact news, the downtrend will continue.

Potential decline targets are situated at 122.55, 121.75 supports.

Alternative scenario: the breakout of 123.30 resistance will open the way to the upper border of the descending channel at 124.00.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The USDJPY keeps correcting ahead of the BoJ press conference

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 124.45

Min. 121.50

gbpusd12

The downtrend was temporally halted by the last week’s low of 122.55 support. Short-term correction up has commenced with the target at the intraday resistance of 123.30.

The BoJ press conference will take place today. If bulls fail to break above 123.30 resistance amid this high impact news, the downtrend will continue.

Potential decline targets are situated at 122.55, 121.75 supports.

Alternative scenario: the breakout of 123.30 resistance will open the way to the upper border of the descending channel at 124.00.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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