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    Technical analysis for the USD/JPY – 21.10.2015

    Previous assumptions, that the bullish trend is strengthening are confirmed by the current development. The price kept rising and the pair is now trading at 119.90/95. The indicators keep suggesting dominating uptrend potential – R% is overbought, SS is about to step into this zone, MACD also entered the positive territory and keeps rising. In this situation, we have all reasons to expect the test of the triangle’s upper border at 121.00 any time soon. If the price breaks and holds above this resistance, it’ll indicate the bullish victory and growth to the next resistance at 122.40. The breakout of 118.60/20 support, on the other hand will be a signal for reversal down.

    JPY211015

     

     

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

    Previous assumptions, that the bullish trend is strengthening are confirmed by the current development. The price kept rising and the pair is now trading at 119.90/95. The indicators keep suggesting dominating uptrend potential – R% is overbought, SS is about to step into this zone, MACD also entered the positive territory and keeps rising. In this situation, we have all reasons to expect the test of the triangle’s upper border at 121.00 any time soon. If the price breaks and holds above this resistance, it’ll indicate the bullish victory and growth to the next resistance at 122.40. The breakout of 118.60/20 support, on the other hand will be a signal for reversal down.

    JPY211015

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!


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