USD/JPY Pierces Through 110, Targets 107

Discussion in 'Technical Analysis' started by Kaitlin, Jun 2, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    As it turned out, a failure of the pair to reach the upper bound of the recently formed pattern on Tuesday led to a breach of support at 110 yen, where the up-trend line is joined by the 55-day SMA and weekly PP. The near-term outlook is therefore strongly negative,[​IMG]

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