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Technical analysis for the USDJPY on 03.08.2015

The USDJPY keeps within the uptrend

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 125.50

Min. 123.00

usdjpy

The uptrend of the JPY has temporally halted at 124.45 resistance. This levels has been tested twice in the last two weeks, but with no luck.

Today we expect the third test of 124.45 resistance. if it ends with a breakout, medium-term uptrend will continue.

Potential growth targets are situated at 125.00, 126.00 resistance levels.

Alternative scenario: to continue correction down, bears have to break and hold below 123.70 support. If they succeed, it’ll open the way to 123.00.

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 within the uptrend

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 125.50

Min. 123.00

usdjpy

The uptrend of the JPY has temporally halted at 124.45 resistance. This levels has been tested twice in the last two weeks, but with no luck.

Today we expect the third test of 124.45 resistance. if it ends with a breakout, medium-term uptrend will continue.

Potential growth targets are situated at 125.00, 126.00 resistance levels.

Alternative scenario: to continue correction down, bears have to break and hold below 123.70 support. If they succeed, it’ll open the way to 123.00.

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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