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Technical analysis for the USDJPY on 25.06.2015

The USDJPY: downside correction is slowly turning up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 125.00

Min. 122.55

usdjpy15

The breakout of the descending channel’s upper border at 123.80 was the first signal for the reversal of the downside correction.

The exit from the channel occurred at low volumes, but technically has been a good sign of the continuation of a long-term bullish trend.

The price is currently correcting into the ascending trend line, which is crossed by the tough support of 123.20.

The test of the 123.20 mark will most likely trigger the rebound up towards 123.80, 1.2445, 1.2500 resistance levels.

Alternative scenario: the breakout of the ascending trend line at 123.20 will trigger continuation of the downtrend.

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: downside correction is slowly turning up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 125.00

Min. 122.55

usdjpy15

The breakout of the descending channel’s upper border at 123.80 was the first signal for the reversal of the downside correction.

The exit from the channel occurred at low volumes, but technically has been a good sign of the continuation of a long-term bullish trend.

The price is currently correcting into the ascending trend line, which is crossed by the tough support of 123.20.

The test of the 123.20 mark will most likely trigger the rebound up towards 123.80, 1.2445, 1.2500 resistance levels.

Alternative scenario: the breakout of the ascending trend line at 123.20 will trigger continuation of the downtrend.

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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