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USD/JPY Mid-Day Outlook


Every day Pivots: (S1) 146.58; (P) 147.12; (R1) 147.78; Extra…

USD/JPY’s rally continues and breaks 147.68 long run resistance. Intraday bias stays on the upside for 149.25 projection degree, and presumably to 150 psychological degree. On the draw back, break of 146.43 minor help will now recommend quick time period topping, and switch bias again to the draw back for deeper pull again.

Within the greater image, up development from 101.18 continues to be in progress, as a part of the entire up development from 75.56 (2011 low). Additional rise must be seen to 147.68 (1998 excessive), and presumably to 100% projection of 75.56 (2011 low) to 125.85 (2015 excessive) from 98.97 at 149.26, For now, break of 130.38 help is required to be the primary indication of medium time period topping. In any other case, outlook will keep bullish even in case of deep pull again.

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