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USDJPY bullish divergence in downtrend

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As we could read in yesterday’s article AUDUSD completely followed the analysis dropping to 0.6940 after hitting POC at 0.7040. 100 pip drop was not a surprise for me as there are always important inter market correlations which are shaping up the currency move. USDJPY has prone to both USD and JPY announcements and strongly correlated to NIKKEI index. Japan’s trade balance showed a deficit of 271.5b Yen in November which was higher than expected 158.7b Y . Technically USDJPY is under the

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