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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 25, 2020 - 21:49
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 110.350, beginning of downtrend is expected.
  • We make sure when the support at 107.650 breaks.
  • If the resistance at 110.350 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 110.30 on 01/17/2020, so more losses to support(s) 108.75, 108.15 and minimum to Major Support (107.65) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Supports and Resistances:

  1. 118.60
  2. 115.50
  3. 111.45
  4. 110.95
  5. 110.35
  6. 109.70
  7. 108.75
  8. 108.15
  9. 106.60
  10. 104.65
  11. 102.75
  12. 100.00
Click on the level to view price action history.

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