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Technical analysis for the USD/JPY – 06.11.2015

Growth continued and the price is approaching the target at 122.40, mentioned earlier. Trading is currently carried out at 121.90/80. Indicators keep suggesting dominating bullish moods. Previous assumptions expecting the test of 122.40 resistance are still relevant. The barrier may turn out strong enough to hold back further ascension and trigger consolidation. The breakout, om the other hand, will open the way up to the next significant resistance at 124.30. However, in case of surprising news from the US, the price may fall below the previously breached resistance of 121.00, which has become tough support. If it happens, market moods will change to bearish.

JPY061115

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!

Growth continued and the price is approaching the target at 122.40, mentioned earlier. Trading is currently carried out at 121.90/80. Indicators keep suggesting dominating bullish moods. Previous assumptions expecting the test of 122.40 resistance are still relevant. The barrier may turn out strong enough to hold back further ascension and trigger consolidation. The breakout, om the other hand, will open the way up to the next significant resistance at 124.30. However, in case of surprising news from the US, the price may fall below the previously breached resistance of 121.00, which has become tough support. If it happens, market moods will change to bearish.

JPY061115

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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