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24 Sept 2014 USD/JPY Analysis

Amandeep Sonewane | Sep. 24, 2014
24 Sept 2014 USD/JPY Analysis

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Yen advances as continued attacks on Syria overnight by the U.S shifted investor's interests

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 108.66 appears to be breached finally as support of 108.4-108.2 remains in sight as Yen advances against the U.S dollar

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Strong resistance at 108.6 today we shall see the formation and confirmation of the downtrend channel in red and look to trade towards 108 and below the 200 hourly average at 107.66

USDJPY trades below the 104 hourly moving average for the first time since end August as 108.66 remain the closest resistance that may see Yen advance towards 107.66 (with mid term target 107.2 at the bottom of the supporting trendline in blue) Flash Manufacturing PMI earlier today showed a lower than expected figure but failed to dampen the optimism on Yen buying.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish107.66108108.28108.66109109.28

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