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08/01/15 USDJPY back on the rise with reduced demand for haven assets

08/01/15 USDJPY back on the rise with reduced demand for haven assets

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics, inflation, deflation, recession

 

 

Candles were observed to be supported at 118.43, forming a higher low. The Dollar continues to strengthen and traders await for candles to test the nearest resistance at 120.67 by the end of the trading week.

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Focusing on H4 chart, candles were observed to be supported by 200 EMA. In addition, resistance at 118.43 turned into a support for the pair, allowing it to resume its bull to test 120.67 once again.

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics, inflation, deflation, recession

 

Candles came back down after holding above 118.43 and broke back and above 119.28. Bull continues to persist and traders can await for the next resistance to be tested again at 120.67.

Trend Direction  S3 S2 S1 R1 R2  R3
Bullish  118.23 118.85 119.28 119.288 120.67

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