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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 97138, member: 33464"] [SIZE=6][B]USDJPY Stuck In Crucial Range, What’s Possible?[/B][/SIZE] [B]Key Highlights [/B] · US Dollar traded higher yesterday against the Japanese Yen, but found sellers later on. · There is a bullish trend line formed on the hourly chart, which is currently acting as a hurdle for sellers and protecting a break. · In the US, the total Net TIC Flows released by the US Department of Treasury came in at $-29.4B in Dec 2015. · Japanese Machinery New orders, released by the Cabinet Office posted a rise of 4.2% in Dec 2015, compared with Nov 2015. [B]USDJPY Technical Analysis[/B] The USDJPY pair recently tested the 114.80-90 area where it found sellers and started to move down. The 200 hourly simple moving average played well and protected gains in USDJPY. [IMG]http://s15.postimg.org/fxeslnhcr/USDJPY_02_17_2016.png[/IMG] There is a bullish trend line formed on the hourly chart, which is currently acting as a hurdle for sellers and protecting a break. If sellers manage to clear the same, then a move towards the 100 hourly simple moving average is possible. On the upside, the 200 MA may continue to act as a barrier for buyers. If there is a break above it, then the USDJPY pair may continue to trade higher. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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