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    Technical analysis for the USDJPY on 29.04.2015

    The USDJPY is about to make the third attempt to test tough support at 118.60

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 150 pips Max. 120.00

    Min. 117.90

    usdjpy10

    Apart from other major currencies, which actively strengthen against the US dollar, the Japanese yen seems reluctant to join its opponents.

    Low volatility was observed in the last two days. The price consolidated at around tough support of 118.60.

    Support at 118.60 has already held back the bears twice. If the third test fails too, the price will rebound up towards resistance at 119.40.

    Alternative scenario: downtrend will continue of price breaks and hold below 118.60 support.

    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 is about to make the third attempt to test tough support at 118.60

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 150 pips Max. 120.00

    Min. 117.90

    usdjpy10

    Apart from other major currencies, which actively strengthen against the US dollar, the Japanese yen seems reluctant to join its opponents.

    Low volatility was observed in the last two days. The price consolidated at around tough support of 118.60.

    Support at 118.60 has already held back the bears twice. If the third test fails too, the price will rebound up towards resistance at 119.40.

    Alternative scenario: downtrend will continue of price breaks and hold below 118.60 support.

    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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