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Thread: Usd/jpy

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    Default Usd/jpy

    The dollar against the Japanese yen yesterday moved slightly towards the upside to hit key resistance level at 123.70s, this move occurred because the pair remained above the key support level at 123.15 by which the bearish momentum seen may affect the upside move to replace it with downside one by today.

    The trading range for today will be between the key resistance at 123.70 and the key support at 121.50.

    The general trend is down as far as 124.60 remains intact, targets of 120.70 and 119.30.

    selling USD/JPY below 123.50 with a target of 122.80, stop loss above 123.90

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    I agree with that one. From there it should continue upward

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    Default

    Daily Pivot Points Summary

    USDJPY 123.66 123.21 123.39 122.73 122.97 123.18 123.42 123.63 123.87 124.08 21:00 GMT

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    4 Hours Pivot Points Summary

    USDJPY 122.75 121.88 122.27 120.98 121.43 121.85 122.30 122.72 123.17 123.59 21:00 GMT

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    Hourly Pivot Points Summary

    USDJPY 122.06 121.94 121.94 121.77 121.86 121.90 121.98 122.02 122.10 122.15 21:00 GMT

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    Default

    what are those pivots?
    why is it decreasing, then increasing...?
    i understand the standard pivot point, but this makes me confused...

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