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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 99013, member: 22847"] [B]AceTraderFx Mar 22: Daily Recommendations on Major -USD/JPY[/B] [IMG]http://www.trendsetterfx.com/image/common/flag/flag_yen.gif[/IMG] [B]DAILY MARKET OUTLOOK[/B] Update Time: [B]22 Mar 2016[/B] [I]09:07 GMT[/I] USD/JPY - 111.67 The greenback's selloff last week and subsequent breach of February's trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction. On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00. [/QUOTE]
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