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5th Nov 2014 USD/JPY Analysis

5th Nov 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 recedes below 113.7 as profit taking and falling U.S exports weighed temporarily on a sluggish dollar movement yesterday

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 still remains bullish and retracements are to be considered to go long on this fundamentally dependent pair

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 Closest support seen on the hourly chart stands at the 112 level, and bearish calls are to be avoided as MACD still hints at bullish trend.

The trade deficit in the U.S. widened in September as exports cooled. Weaker global growth is likely to affect the world’s largest economy after eliminating the influence of prices, the trade deficit widened to $50.8 billion from $48.2 billion, the highest in 4 months.

The BOJ’s expansion of its asset purchase program to 80 trillion Yen will likely have lasting effects on a weaker Yen and advise to stay close to the fundamentals when chasing this pair.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bullish110.5112.1113.00114.17115116.37

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