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USDJPY broke 118.22 to target 118.45/41 & October

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 7, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Daily Forecast - 07 January 2016 USDJPY Spot USDJPY broke 118.22 to target 118.45/41 & October lows at 118.04/00 & almost as far as 117.50/45. We are severely oversold but only stand a chance of recovery is we can at least stablise above 118.00. We can then look for minor resistance at 118.32/35, perhaps as far as strong resistance at 118.60/70. This is the main challenge for bulls today but shorts need stops above 118.85. Just be aware of very strong resistance at 119.05/15. A break

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