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29th Oct 2014 USD/JPY Analysis

29th 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 USD/JPY traded below 108.2 resistance and remains sideways

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 61.8% of the downtrend Fibonacci Retracement saw further resistance as the Stochastics head towards overbought levels again

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 Moving averages support USD/JPY movement as a flat Traditional MACD still signals slight bullish sentiment

Mixed economic indications yesterday saw the U.S dollar plunge before correcting losses against the Yen. The Consumer Confidence rose to a 7 year high after reports of Core Durable Goods and Durable Goods orders fell month on month, with 107.7 supported before ending the day near the opening of the week.

The BOJ gives its outlook report and monetary policy statement updates this Friday and with not much of economic data out of the U.S either today due to the start of the 2 day FOMC meetings, this pair is best to be left alone until a clearer picture is formed tomorrow.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish106.56107.4107.76 108.2108.78109

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