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23 Sept 2014 USD/JPY Analysis

23 Sept 2014 USD/JPY Analysis

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, USD/JPY lack of direction as it consolidates around 109

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 108.66 remains supported as the rise loses steam, no clear signal as the moving averages dip

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Traditional MACD shows signs of moving bearish and the candle formation looks to form a series of lower highs

Yen rose against the U.S dollar yesterday as the first air-strikes were launched at Syria, sparking risk adverse investors to move towards relative safe haven assets. The lack of a clear fundamental direction is the reason why the Yen has varied reactions across the board against the major currencies, advancing somewhat against the Dollar, barely moving against the Pound but rallied against the Euro.Markets are expected to stay off the Yen as Japanese banks are on holiday today, while this weel’s data on Friday on their National Core CPI being the next key indicator in the BOJ’s plans on whether the next round of tax hikes are plausible this early.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish 108108.42108.66109109.28109.5

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