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[QUOTE="Antony_NPBFX, post: 178071, member: 38727"] [size=5][b] USD/JPY: the instrument is consolidating 16.03.2020 [/b][/size] Good afternoon, dear forum visitors! [url= https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] USD shows ambiguous dynamics against JPY during today’s Asian session, trading near the opening level at 107.00. Investors take a lead from a sudden decision of the US Fed to lower interest rates to zero, which should help a weakening global economy amid the further spread of the coronavirus epidemic. Other leading regulators come forward with similar measures. Earlier, the Bank of Japan announced a new program of purchases of government bonds worth JPY 200B, and also announced the issuance of JPY 1.5T of short-term loans for small and medium-sized businesses. Moderate support for JPY at the beginning of the week is provided by macroeconomic statistics published in Japan. Machinery Orders in January grew by 2.9% MoM after a decrease of 12.5% MoM last month. Analysts had expected negative dynamics to remain at –1.6% MoM. In annual terms, the decline slowed from –3.5% YoY to –0.3% YoY, which also turned out to be better than forecast of –0.5% YoY. [b] Support and resistance [/b] On the D1 chart, the Bollinger Bands are gradually reversing horizontally. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, approaching the level of “80”, is prone to reversing downwards, signaling the overbought USD in the ultra-short term. One should wait for clarification of the situation to open new transactions. Resistance levels: 107.76, 108.49, 109.00, 110.00. Support levels: 106.83, 105.90, 105.00, 104.19. [img]http://businesspr-finance.com/wp-content/uploads/2020/03/jpy-3-1.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/03/jpy-4-1.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 107.76. Take-profit – 110.00 or 110.40. Stop-loss – 106.50 or 106.00. A breakdown of 105.90 may be a signal for new sales with target at 104.19 or 103.67. Stop-loss – 107.00. Implementation time: 2-3 days. [b]Use more opportunities of the NPBFX analytical portal: E-book[/b] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/JPY and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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