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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 99082, member: 22847"] [B]AceTraderFx Mar 23: Daily Recommendations on Major -USD/JPY[/B] [IMG]http://www.forexfactory.com/attachment.php?attachmentid=1887091&stc=1&d=1458724448[/IMG] [B]DAILY MARKET OUTLOOK[/B] Update Time: [B]23 Mar 2016[/B][I]09:08 GMT[/I] [B] USD/JPY - 112.57[/B] Despite the greenback's selloff to as low as 110.67 last Thursday, subsequent strong rebound suggests MT decline has possibly made a temporary low there and consolidation with upside bias would be seen for gain towards 112.96, then 113.46/50. However, near term loss of momentum would prevent strong move beyond there and risk would increase for a much-needed retreat later. On the downside, only below 111.38 would indicate aforesaid correction has ended instead and turn outlook bearish for weakness towards 111.22, then 110.99. [/QUOTE]
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