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    Technical analysis for the USDJPY on 14.07.2015

    The USDJPY: the downtrend has truned up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 124.35

    Min. 122.45

    usdjpy6

    The price finally managed to break the descending trend line of 123.00, which had acted as the upper border of the descending channel for a long time. The breakout of the trend line was a signal for the reversal of the bearish trend.

    Trading is currently carried out within the ascending channel and below strong resistance of 123.70, breakout of which will allow the bulls to continue the uptrend.

    The closest growth target will be found at 124.35 resistance, which has already pushed the bulls down twice.

    Alternative scenario: long consolidation below 123.70 resistance will trigger correction down with the target at 122.85.

    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: the downtrend has truned up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 124.35

    Min. 122.45

    usdjpy6

    The price finally managed to break the descending trend line of 123.00, which had acted as the upper border of the descending channel for a long time. The breakout of the trend line was a signal for the reversal of the bearish trend.

    Trading is currently carried out within the ascending channel and below strong resistance of 123.70, breakout of which will allow the bulls to continue the uptrend.

    The closest growth target will be found at 124.35 resistance, which has already pushed the bulls down twice.

    Alternative scenario: long consolidation below 123.70 resistance will trigger correction down with the target at 122.85.

    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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