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2 Oct 2014 USD/JPY Analysis

2 Oct 2014 USD/JPY Analysis

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 USD/JPY retraced from the high of 110.08 before ending the day below the Fibonacci Extension 127.2 at 109.109, the most volatility in a day since the week of 12 September

 

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 A break below of 109.109 and resisted we can expect the next support at 108, before the blue trendline kicks in for traders to follow up on the buying positions as the Stochastics goes into the oversold region

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 A retracement may occur on the Hourly chart before 109.109 retests as resistance for bearish calls to continue

Yen gained against the U.S dollar, Euro and Pound late yesterday, after attaining its highest since August 2008 agains the USD. The monetary base year on year change was lower at 35.3%, lower than the estimated and the previous month’s 40.5%. The monetary base is the measure of change in the total quantity of Yen in circulation versus current account deposits held at the BOJ. Deviation from the planned trajectory for monetary base growth leads to policy adjustments to move in alignment with their inflation mandate.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish107.38108.2108.5109.109109.36110

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