USD/JPY Forecast: Consolidating at highs

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 1, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    USD/JPY Current price: 121.28 View Live Chart for the USD/JPY Consolidating at highs. The USD/JPY pair seems unable to attract investors this Monday, confined to a tight 40 pips range ever since the day started. The background trend, however, is bullish ever since the BOJ shocked markets by announcing negative deposit rates, as in the 1 hour chart, the price holds steady near its highs, while the technical indicators have corrected extreme overbought readings and the 100 and 200 SMAs advanced

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