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USDJPY: Sees Recovery Higher On Loss Of Bearish Momentum

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 16, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    USDJPY: USDJPY lost its downside momentum to close higher on a long-tailed candle on Thursday. This development leaves risk higher with a possible run at the 119.50 level. Above here will clear the way for more strength build up towards the 120.00 level with a break targeting the 120.50 level. Further out, resistance comes in at the 121.00 level where a violation will turn focus to the 121.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside,

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