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USDJPY - strong pressure at critical 111.00/110.65 support zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD Long-legged daily candle of Friday, signals Euro’s hesitation at 1.1400 zone, which was cracked on spike 1.1436, but no clear break seen so far. Extended near-term consolidation is expected to precede fresh attempts higher, as studies maintain firm bullish tone, which resulted in strong weekly bullish close. Consolidation is so far entrenched in narrow range, holding above initial support zone (hourly Ichimoku cloud, spanned between 1.1367/50), with cloud’s base being reinforced by

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