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Technical analysis for the USDJPY on 11.05.2015

The USDJPY: uptrend preserves

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 90 pips Max. 120.75

Min. 118.60

usdjpy5

On the intraday chart trading is carried out within the ascending symmetrical triangle. As long as the triangle’s angle is turned up, dominating bullish potential will preserve in this market.

With no significant fundamental news to be published today, low volatility may be observed on the session. Short-term consolidation is expected to occur around 120.00 resistance.

Continuing consolidation below the 120.00 resistance will most likely trigger a rebound down – into the ascending trend line of 119.50.

Alternative scenario: to continue the uptrend, bulls have to break and hold above the resistance of 120.30.

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: uptrend preserves

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 90 pips Max. 120.75

Min. 118.60

usdjpy5

On the intraday chart trading is carried out within the ascending symmetrical triangle. As long as the triangle’s angle is turned up, dominating bullish potential will preserve in this market.

With no significant fundamental news to be published today, low volatility may be observed on the session. Short-term consolidation is expected to occur around 120.00 resistance.

Continuing consolidation below the 120.00 resistance will most likely trigger a rebound down – into the ascending trend line of 119.50.

Alternative scenario: to continue the uptrend, bulls have to break and hold above the resistance of 120.30.

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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