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USDJPY making new lows for the day/lows for the week

Discussion in 'Technical Analysis' started by ForexLive, Apr 1, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Trades at the midpoint of longer term range going back to 1998 The 50% of the move down from the 1998 high at 147.71 to the low from October 2011 at 75.57 comes in at 111.64. The price of the USDJPY has just dipped back below that level in the last few minutes of trading.

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    The pair will definitely reach 111.00 in my opinion. That said, it's also very likely it will bounce off that level.
     
  3. VSam

    VSam Guest

    I think the pair will re-test the 112.24 and then we might see a correction towards 111.05

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  4. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    I think it's too early to say whether it will bounce off 111.30 or not.
     

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