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4/21/2016 4:05:07 AM

USDJPY pierces a downside trend line - Technical Analysis - 21-04-2016



USDJPY rose in the intraday levels and short term trading, which came after the pair breached the main downward short-term trend line as shown in the attached chart, coinciding with trespassing the resistance of the SMA50, getting rid of its negative pressures and embarking on an upward correctional wave to recover some of the past losses, with the pair succeeding eventually in breaching the pivotal resistance of 109.65, settling above it for the moment.

Therefore we expect further correctional rise for the pair, as long as it settles above 109.65, targeting the resistance of 110.65.


Target
Risk


Support
Resistance


Trend Bullish

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