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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 161526, member: 58758"] USD/JPY: technical analysis 19.03.2019 [URL='https://atirox.com/wp-content/uploads/USDJPYH419032019.png'][IMG]https://atirox.com/wp-content/uploads/USDJPYH419032019-1024x576.png[/IMG][/URL] Current trend On 4-hour chart, USD/JPY shows a negative dynamic. The price has tested the support level of 111.13 and was slightly corrected upwards, but the downward trend still maintains. In case the pair manage to cross the 111.13 the next targets of sellers will be the level of 110.93 (Murray [0/8]), which seems a key level for the sellers. The breaking 110.93 and holding below it will push the price back to 110.74 (Murray [-1/8])-110.54 (Murray [-2/8]). The upward trend will be restored after the price is set above the level of 111.52, which is the middle line of Bollinger Bands. In this case the raise can continue to the area of 111.71 (Murray [4/8])-111.91 (Murray [5/8]). Technical indicators mostly keep a sell signal. Bollinger Bands are diverging, reflecting the active development of the current downward trend. MACD histogram is in the negative zone and form a sell signal. Stochastic’s lines are pointed downwards. Support and resistance Support levels: 111.13, 110.93, 110.74, 110.54. Resistance levels: 111.32, 111.52, 111.71, 111.91. Trading recommendations Short positions can be opened below the level of 111.13 with the target at around 110.74-110.54 and stop-loss 111.30. Long positions can be opened above the level of 111.32 with the target at around 111.71-111.91 and stop-loss 111.10. [/QUOTE]
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