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Author Topic: Daily Forex Trading Market Analysis Review  (Read 16338 times)

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #15 on: February 12, 2016, 06:39:25 PM »

The indicators of the daily chart are still well negative but formed a new low while pointing still toward lower levels. The indicators of the s/t charts are instead showing a mixed picture supporting a possible rebound. Only an hourly closing above 113,10 will however confirm higher levels suggesting a move toward the 200 hours line, now found at 116,17

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #16 on: February 21, 2016, 06:14:11 PM »

USD/JPY engaged in consolidative trading above 110.98 last week and outlook is unchanged. Initial bias stays neutral this week first. In case of another rise, we'd expect upside to be limited by 115.96 support turned resistance and bring fall resumption.

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #17 on: February 23, 2016, 06:44:09 PM »

The USD/JPY pair went back and forth during the course of the day on Monday, as we continue to hover around the 113 handle. This is a market that we are expecting to see quite a bit of resistance by the 115 handle, so therefore any rally this point in time will look suspect to us. So until we break above the 115 handle that we are comfortable buying. At this point in time, we continue to short exhaustive looking candles. However, at this point it looks as if its probably best to simply stand on the sidelines.

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #18 on: March 13, 2016, 01:51:51 PM »

In the long term picture, the strong impulsive look of the rally from 75.56 suggests that USD/JPY is now in a long term up trend. Nonetheless, break of the long term trend line argues that it's now in a corrective phase. Sustained break of 115.96 should bring deep medium term correction before resuming the up trend.

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #19 on: March 20, 2016, 02:09:58 PM »

In the long term picture, the strong impulsive look of the rally from 75.56 suggests that USD/JPY is now in a long term up trend. Nonetheless, break of the long term trend line argues that it's now in a corrective phase. Sustained break of 115.96 should bring deep medium term correction before resuming the up trend.

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #20 on: March 22, 2016, 06:31:52 PM »

In the bigger picture, price actions from 125.85 medium term top is developing into a deeper correction. Further fall would be seen to 38.2% retracement of 75.56 (2011 low) to 125.85 at 106.63 and possibly below.

Offline uzakon

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Re: Daily Forex Trading Market Analysis Review
« Reply #21 on: March 27, 2016, 06:33:48 PM »

112.48 is providing support. The line marked the start of a yen rally in January 2008, which saw USD/JPY drop below the 100 level. 108.95 was a cushion in May 2006. It is the final support line for now. I am bullish on USD/JPY

 

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