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12/12/2014 Downfall of USDJPY after months of bullish momentum

12/12/2014 Downfall of USDJPY after months of bullish momentum

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 USDJPY was first supported at Fibonacci retracement 23.6% at 117.90. However, given the strong bearish momentum of the previous candles, prices may continue to fall even further before a continuation of uptrend is observed.

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 118.77 was initially observed to be a resistance which could possibly turn into a support price. If candles fail to break below 118.77, it is highly possible that the uptrend would continue.

 

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 A series of lower highs are observed indicating the rise of a bearish trend.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish117.28117.95118.77119.51119.91120.93

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