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    Technical analysis for the USD/JPY – 16.11.2015

    Growth in the pair was held back by 123.50/60 resistance and the price commence another correction, which was limited by 122.40 support/ Trading is currently carried out at around 122.90/95. Indicators are unclear, which indicates uncertainty in the market and gives reasons to anticipate further range consolidation. However, the fact that the price remains in the ascending channel suggests dominating bullish potential. Therefore, when the correction is complete, growth will most likely continue and the price will test previously mentioned targets at 124.30/125.00. Decline below 122.40 support would mean the extension of consolidation corridor.

    JPY161115

    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!

    Growth in the pair was held back by 123.50/60 resistance and the price commence another correction, which was limited by 122.40 support/ Trading is currently carried out at around 122.90/95. Indicators are unclear, which indicates uncertainty in the market and gives reasons to anticipate further range consolidation. However, the fact that the price remains in the ascending channel suggests dominating bullish potential. Therefore, when the correction is complete, growth will most likely continue and the price will test previously mentioned targets at 124.30/125.00. Decline below 122.40 support would mean the extension of consolidation corridor.

    JPY161115

    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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