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20th Oct 2014 USD/JPY Analysis

20th 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, Abenomics Market fails to break the 105 previous resistance turned support on the weekly charts as end of week Consumer Sentiment boosted U.S bulls

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 Buying on the dip seems to be flavour of the week as Thursday and Friday sentiment saw rebound of the U.S dollar as bears are hesitant over the decision to scale down or retain QE

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 Downtrend lines emerge as the pair rebounds past support of 14 Oct at 106.78

The last two weeks of bearish action has seen USD/JPY retrace from the previous high of 110 to 105 which was last attained in January and again in September as a resistance. The end of the week saw Consumer Sentiment climb to the highest in 7 years and Treasury demand from foreign purchasers rising double of estimates saw a rebound in U.S dollar optimism.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish104.9105.89106.42107.5108108.48

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