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USDJPY - quick reversal from 112.20 barrier keeps downside pressured

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USDJPY Downside remains at risk after two-day recovery from 110.65 low was capped by initial resistance, Fibo 38.2% of 114.53/110.65 downleg at 112.19 today. Subsequent weakness dipped to 111.36, session low, signaling limited upside action and maintain downside pressure. Near-term technicals remain weak, while bearish setup of daily MA’s and indicators holding in the negative territory, keep focus at 111.00/110.65 breakpoints. Session high, also floor of former 01/09 Mar consolidation, remains

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