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    11th January 2016 Market Outlook

    Japanese Yen – USD/JPY fell significantly lower after price breakout away from its 118.05 support level as we expected in our 6th January 2016 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower into its 116.50 support level. On the other hand, traders who missed the shorting opportunity may wait for price to pullback to resistance level before shorting for a safer entry price.

     

     

    USDJPYrDaily

     

    Kiwi Dollar – NZD/USD continue to move lower after price breaks its 0.6619–0.6590 support area as we expected in our 7th January 2016 Market Outlook. Traders who went short at the breakout of the bullish trend line and at the breakout of 0.6619–0.6590 support area as we recommended may consider continue holding onto the short position as price is likely going to continue to move lower in the coming days.

    NZDUSDrDaily

     

    Pound Yen – GBP/JPY fell significantly lower into the 169.50 support level as we expected in our 7th January 2016 Market Outlook. Traders who went short at the breakout of 179.29 support level and at the breakout of 184.45–183.90 support area as we recommended in our 14th December 2015 Market Outlook and 28th December 2015 Market Outlook may consider scale out the position at the 169.50 support level as price could potentially bounce a little before continue to move lower.

    GBPJPYrDaily

    Posted on 2016-01-11 06:30:53


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