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    Technical analysis for the USD/JPY – 19.11.2015

    Attempt to break level 123.50/60 failed, so the price is now pulling back down. Trading is carried out at around 123.20/10 marks. The indicators suggest further correction down within the dominating bullish trend – R% and MACD are falling, SS is overbought, and it likely to hold in this zone. Decline may extend to 122.40 support, which is confirmed by MACD divergence. Therefore range consolidation within 123.50/60 – 122.40 is probable. Medium-term uptrend potential preserves. The breakout of 123.50/60 resistance will be a signal for further growth to the previously mentioned targets at 124.30/125.00.

    JPY191115

    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!

    Attempt to break level 123.50/60 failed, so the price is now pulling back down. Trading is carried out at around 123.20/10 marks. The indicators suggest further correction down within the dominating bullish trend – R% and MACD are falling, SS is overbought, and it likely to hold in this zone. Decline may extend to 122.40 support, which is confirmed by MACD divergence. Therefore range consolidation within 123.50/60 – 122.40 is probable. Medium-term uptrend potential preserves. The breakout of 123.50/60 resistance will be a signal for further growth to the previously mentioned targets at 124.30/125.00.

    JPY191115

    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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