USDJPY rises above 122.20 pivot; post-Fed bullish bias favors further upside

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro accelerated lower after Fed, extending weakness from 200SMA rejections at 1.1040 zone. Two-legged descend found temporary support at 1.0830, with consolidation above here, seem preceding fresh weakness towards pivotal 1.0790 support zone, 07 Dec trough, reinforced by daily Kijun-sen and 20SMA. Violation of the latter is needed to confirm reversal and open way for further retracement of 1.0519/1.1058 upleg. Setup of daily MA’s is mixed, while indicators are bullishly aligned and

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