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Technical analysis for the USDJPY on 25.08.2015

The USDJPY fell to the lower border of the medium-term ascending channel – 115.80

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈  pips Max. 124.10

Min. 115.45

usdjpy15

The US dollar lost about 600 pips against the Japanese yen on yesterday’s session. In a short-run, bullish trend has turned down, although in the medium-term it still remains relevant.

The price fell to the lower border of the medium-term ascending channel – level 115.80 yesterday (the ascending trend line). As long as the channel remains intact, upside potential preserves.

In a medium-term we expect the price to approach 124.10 resistance again.

Alternative scenario: the exit from the medium-term ascending channel will allow bears to turn steady uptrend to the downside.

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 fell to the lower border of the medium-term ascending channel – 115.80

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈  pips Max. 124.10

Min. 115.45

usdjpy15

The US dollar lost about 600 pips against the Japanese yen on yesterday’s session. In a short-run, bullish trend has turned down, although in the medium-term it still remains relevant.

The price fell to the lower border of the medium-term ascending channel – level 115.80 yesterday (the ascending trend line). As long as the channel remains intact, upside potential preserves.

In a medium-term we expect the price to approach 124.10 resistance again.

Alternative scenario: the exit from the medium-term ascending channel will allow bears to turn steady uptrend to the downside.

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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