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Technical Analysis Daily: USD/JPY |
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Technical Archives |
Written by ZIFX.com |
Mar 13 09 06:29 GMT
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Technical Analysis Daily
USD/JPY 98.05 - 13 March
USD/JPY Open 97.34 High 98.53 Low 95.65 Close 97.47
Yesterday Dollar/Yen made a descending movement to the bottom 95.65, then rose sharply, reaching a peak of 98.53, and closed the day at 97.47. On the 1 hour chart there is a still valid descending channel, but the closest signals are neutral. Immediate resistance is yesterday's peak 98.55, followed by the potential double top 99.65. First support is at 96.70. Break below this level may cause further bearish movement. The CCI indicator in neutral area of 4 hour and daily charts.
Technical resistance levels: 98.55 99.65 100.70
Technical support levels: 96.70 95.65 94.50
Trading range: 97.95 - 98.55
Trend: Upward
Buy at 98.05 SL 97.75 TP 98.45
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