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Technical analysis for the USDJPY on 06.08.2015

The USDJPY broke strong resistance of 124.45

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 126.00

Min. 124.30

usdjpy3

Long consolidation below 124.45 resistance ended up with the breakout yesterday, which suggests continuation of the uptrend.

The dollar’s growth against the yen has recently halted at 125.00, where from the price may correct into the range of level 124.45, which is now acting as strong support.

Re-test of the 124.45 mark will trigger consolidation, followed by the rebound up towards 125.00, 125.50, 126.00.

Alternative scenario: long consolidation above the strong support of 124.45 is possible.

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 broke strong resistance of 124.45

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 126.00

Min. 124.30

usdjpy3

Long consolidation below 124.45 resistance ended up with the breakout yesterday, which suggests continuation of the uptrend.

The dollar’s growth against the yen has recently halted at 125.00, where from the price may correct into the range of level 124.45, which is now acting as strong support.

Re-test of the 124.45 mark will trigger consolidation, followed by the rebound up towards 125.00, 125.50, 126.00.

Alternative scenario: long consolidation above the strong support of 124.45 is possible.

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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