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Technical Analysis
Daily Technical Analysis for Majors by Dukascopy
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[QUOTE="Anastasia DC, post: 110118, member: 37587"] [B]USD/JPY likely to extend stagnation[/B] [IMG]https://i.gyazo.com/f6a0a7c189716aa2c97c26fee78f162c.png[/IMG] [I]"A week and a half ago consensus was dollar/yen higher on BOJ inaction. Now we're seeing a flattening of the risk profile as we go into the central bank meetings and traders are not trying to be too aggressive on one side or the other." - Citigroup (based on Reuters) [/I] [B]Pair's Outlook [/B] The American Dollar closed at the lowest level in three weeks yesterday, but was still unable to reach the immediate support. Ahead of the BoJ meeting today the USD/JPY currency pair kept edging lower, but the Yen experienced a rather sharp decline once the BoJ announced its new policy framework, aimed to keep inflation rising. The rally, however, was limited by the one-year down-trend, which is also expected to remain intact today. The pair is expected to erase most of its post-BoJ gains, closing around the 102.00 mark. Meanwhile, technical studies retain mixed signals, also suggesting that no dramatic development is due. [B]Traders' Sentiment [/B] Traders' sentiment remains moderately bullish, now at 61%, while the share of buy orders barely changed itself, having risen from 51 to 54%. [IMG]https://i.gyazo.com/d7c53d47f21e98475a3defac4905ddc2.png[/IMG] [/QUOTE]
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