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USDJPY: Where to From Here?
On July 6, I pointed out the 110.30 area on the USDJPY. Given the confluence of support that had gathered there, I deemed it a “must hold” for buyers. I was skeptical at the time as to whether buyers could pull it off. The pair was having trouble moving higher from the region and was beginning to lean on ascending channel support quite heavily. However, the two-day rally below speaks for itself. The pair is up an impressive 150 pips since Tuesday’s close, and I see no indication of fatigue. Yesterday’s close puts the USDJPY back above the 112.00 handle. The level supported prices throughout December 2017 and ... (full story)
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- Jul 13, 2018 3:58am Jul 13, 2018 3:58am
- Prof.Trader
- | Commercial Member | Joined Jan 2018 | 718 Comments
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- Jul 13, 2018 4:03am Jul 13, 2018 4:03am
- Prof.Trader
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- Jul 13, 2018 4:27am Jul 13, 2018 4:27am
- funzodundee
- Joined Mar 2010 | Status: Member | 54 Comments
I am like the salmon- i have to go against the stream
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- Jul 13, 2018 7:08am Jul 13, 2018 7:08am
- Prof.Trader
- | Commercial Member | Joined Jan 2018 | 718 Comments