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Technical analysis for the USD/JPY – 03.11.2015

Sideways consolidation continues, trading is currently carried out around 120.80/70 marks. The situation hasn’t changed significantly, although both R% and MACD are now turning up, suggesting another growth within consolidation range. To continue the uptrend, bulls have to break resistance at 121.00, which matches with the upper border of the bullish flag (blue lines). If bulls break and hold above this barrier, the formation of the figure will be complete and the price will most likely recommence its growth towards the target at 122.40. Alternatively, the trend will turn down if the price falls below 119.30/20.

JPY031115

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

Sideways consolidation continues, trading is currently carried out around 120.80/70 marks. The situation hasn’t changed significantly, although both R% and MACD are now turning up, suggesting another growth within consolidation range. To continue the uptrend, bulls have to break resistance at 121.00, which matches with the upper border of the bullish flag (blue lines). If bulls break and hold above this barrier, the formation of the figure will be complete and the price will most likely recommence its growth towards the target at 122.40. Alternatively, the trend will turn down if the price falls below 119.30/20.

JPY031115

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



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