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Thread: Short term (Intraday) USDJPY

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    Default Short term (Intraday) USDJPY

    Short term (Intraday)

    118,05. USD JPY broke 119,50 support. USD JPY is in a consolidation after the last bearish movement. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 118,30. The downtrend should continue to gather momentum. The price should find a support above 117,50. If the support is broken then the target will be 117,00.
    => We could take a short position at 118,10. We will put the stop loss above 118,40 (-30 pips). The targets are 117,50 (+60 pips) 117,00 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

    Resistances

    118,30 - 118,50

    Supports

    117,75 - 117,50

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    it is swinging around 119.xx and 117.xx

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    Todays resistance: - 96.18, 96.55, 96.98 and 97.34(main), where a correction may happen. Break would bring 97.71, where also a correction may be. Then 97.98. If a strong impulse, we would see 98.10. Continuation will give 98.27.

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    USD/JPY has resumed its declines in the early American session and pair has fallen 60 pips from 96.10 to test the 95.60 support level. Currently the pair is trading around 96.60/70, 0.20% above today's opening price yet.

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