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USD/JPY: 122.50 is key support - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarikstrong>>, chief analyst at FXStreet explained that USD/JPY is lower in the range.

    Key Quotes:

    "The USD/JPY pair maintains its neutral stance, having been consolidating below the 123.00 level, ever since the day started."

    "Nevertheless, the pair lacks directional strength as the 1 hour chart shows that the price is trading a few pips below a 100 SMA while the technical indicators are losing their upward strength above their mid-lines."

    "In the 4 hours chart, however, the technical indicators are turning south below their mid-lines after a limited upward correction, increasing the risk of a bearish run on a break below the 122.50 level."
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