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30 Sept 2014 USD/JPY Analysis

30 Sept 2014 USD/JPY Analysis

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Accelerating US growth saw the USD/JPY trade closer towards 110

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 109.6 was resisted temporarily with Stochastics showing signs of overbought indication

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, Prices are at resistance of 18 Sept while falling below the 55 hourly average could signal an intraday bearish movement.

Extended gains for the greenback may be detrimental to the risk adverse trader, with a fast rising dollar a potential spanner in the works for the U.S economy as it risks slowing growth, leading to disinflation. A stronger dollar will also be a dilemma for exporters, and Thursday’s unemployment claims data may shed more light on the strength of the dollar before Friday’s Non Farm Payrolls. The Bank of Japan continues its monetary policy of buying 60 – 70 trillion Yen of bonds to stave off inflation, which has so far failed to push inflation towards its targeted 2%.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight bullish108.2108.7109.1109.4110110.5

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