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Sunday, 26 October 2014

The major trend of USD/JPY is bullish but from past few days


Today's Chart: USD/JPY (HOURLY )






SUMMARY:
The major trend of USD/JPY is bullish but from past few days we have seen some profit booking on higher levels. Market is sustaining on the rising trend line & can continue its short term downtrend. Today if USD/JPY sustains below 107.80 we can expect it to test the 107.10. Prices are taking resistance of 30 SMA & can come down for testing 200 SMA.
MACD line is about to breach the zero line, indicating the bearish sentiment in the market. RSI is also supporting the same.

STRATEGY :- For Today, USD/JPY is looking weak on chart. We can expect downside movement for few upcoming
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