USDJPY testing Short-Run resistance zone

USDJPY testing Short-Run resistance zone

Rami
31 (10) 2016 - 09:45 (GMT)
0

USDJPY managed to sustain advance where we mentioned in our last report target at (106.00) see previous report (here) where low liquidity and slow market pushed down the resistance zone of the downtrend line to become at (105.50-70) zone which market start to test last Friday.

Short-Run indicate that as long as market holding trades below this zone (105.50-70) another drop wave will be expected toward (101.00) zone.

While market will face support at (102.80) which may hit market for rebound correction as long as market keep trades above it before resume drop toward (101.00) zone.

Above (105.70) - especially if market managed to obtain daily close above it – the pair may head for farther advance ith another resistance zone at (107.20-50).

USDJPY

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Rami

Rami

Hi all, my name is Rami, with more than 16 years experience in Forex Market, switching from Brokerage field to Fund Management and Risk Management specialty.I had an idea to establish a Home Page to present my thoughts on Forex Market from three different angle or prospective, Mid-Run, Short-Run & Intraday movements .

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