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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 99474, member: 22847"] [B]AceTraderFx Mar 30: 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]30 Mar 2016[/B] [I]08:16 GMT[/I] [B]USD/JPY - 112.11[/B] Despite dollar's initial rise to 113.80 in European morning yesterday, subsequent intra-day selloff to 112.61 in New York afternoon on dovish remarks from Fed's Yellen and today's breach of this support confirms upmove from March's 16-month trough at 110.67 has made a temporary top there, consolidation with downside bias remains for stronger retracement to 111.87 (61.8%) but near term o/sold condition should keep price well above support at 111.38 today, yield rebound later. On the upside, only above 112.81 would confirm 1st leg of correction over and bring gain to 113.15/24 but resistance at 113.46 should remain intact. [/QUOTE]
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