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USD/JPY and AUD/USD Forecast

Discussion in 'Technical Analysis' started by Daily.Forex, May 20, 2016.

  1. Daily.Forex

    Daily.Forex Forum Member

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    The USD/JPY pair fell slightly during the course of the day on Thursday, as the 110 level has offered a bit of resistance as one would expect. The Australian dollar fell a bit during the course of the session on Thursday, but bounced off of support below to turn things around and form a hammer.

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    USD/JPY broke above 109.70 and it will likely continue climbing.
     
  3. JamaMolla

    JamaMolla Member Trader

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    [​IMG]

    AUD/USD pair has been negative for past 2-3 weeks, but now seems to be working towards covering some ground; It’s a great opportunity to go long till the pair keeps above 0.7173, if it go below that then we will continue into bearish trend.
     
  4. JamaMolla

    JamaMolla Member Trader

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    [​IMG]

    USD/JPY has been pretty solid upwards, but has been cap at 110.47, it’s the level to see for bullish indicator, if it’s hold then it’s great zone for going short, but beyond that level we might see the pair going into bullish zone.
     
  5. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    Considering the two doji candlesticks on the daily time frame I think we can expect a retracement.
     

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