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3/25/2016 3:59:51 AM

USDJPY muddled in sideways trading - Technical Analysis - 25-03-2016



USDJPY rose in the short term as it is bound in a sideways trading area in the short term, between the support of 111.00 and the resistance of 114.15, while leaning previously on the support of this area, lending it positive momentum that helped it rise again and trespass the SMA50, benefiting from its positive support in the coming trading, especially with an influx of positive signals from relative power indicators.  

Therefore we expect more gains to come for the pair in the intraday levels, targeting the resistance of 114.15. As for our forecasts in the short term, it hinges on whether the pair would breach any of the levls bounding it in that sideways area.


Target
Risk


Support
Resistance


Trend Bullish

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