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Technical analysis for the USDJPY on 19.08.2015

The USDJPY keeps consolidating below tough resistance of 124.45

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 170 pips Max. 126.00

Min. 122.40

usdjpy11

Trading is being carried out with no significant changes. The price has been consolidating below 124.45 resistance for a long time. Trading volumes are low, so there’s also a big chance of the rebound down.

All eyes will turn at the FOMC meeting minutes at 21.00 today. Until then, current consolidation below the above mentioned barrier will most likely preserve.

Potential decline targets are situated at two support levels of 123.75, 123.00.

Alternative scenario: medium-term bullish trend will recommence if price breaks resistance at 125.00. The breakout will open the way to 126.00.

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 consolidating below tough resistance of 124.45

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 170 pips Max. 126.00

Min. 122.40

usdjpy11

Trading is being carried out with no significant changes. The price has been consolidating below 124.45 resistance for a long time. Trading volumes are low, so there’s also a big chance of the rebound down.

All eyes will turn at the FOMC meeting minutes at 21.00 today. Until then, current consolidation below the above mentioned barrier will most likely preserve.

Potential decline targets are situated at two support levels of 123.75, 123.00.

Alternative scenario: medium-term bullish trend will recommence if price breaks resistance at 125.00. The breakout will open the way to 126.00.

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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